Issue 2

Special Column of China Eximbank’s 30th Anniversary


　　As a policy bank dedicated to supporting China’s foreign trade, investment and international economic cooperation, China Eximbank remains committed to implementing the major decisions made by the CPC Central Committee and the State Council, with great efforts made to help Chinese products and enterprises go global while bringing in overseas products and technologies. The Bank takes solid actions to enhance the economic and social development capabilities of host countries, and improve the local business environment and people’s well-being, so as to boost the higher-level opening-up of the Chinese economy, reinforce the dual circulation of domestic and international development, and facilitate the building of a global community with a shared future for mankind. This edition publishes articles written by invited partners, which incorporates tangible fruits and experiences of past cooperation while tapping into the potential of future cooperation.  
　　Alamine Ousmane Mey (Cameroon)——The Great Importance of Loans Provided by China Eximbank: On the Occasion of the Bank’s 30th Anniversary  
　　Kazim Niaz (Pakistan)——The Role of China’s Development Financing in Pakistan 
　　Joseph Mungai Mbugua (Kenya)——Build Even Stronger Bonds in Bilateral Cooperation: A Celebration of China Eximbank’s Contributions to Kenya’s Infrastructure Development     
　　ZHANG Yujing——Policy-based Finance in Support of Export Growth: Experience from the Electromechanical Sector 
　　For more details, please refer to pages 8-17 of the Issue 2 of Overseas Investment & Export Credits, 2024.     
　　

Disclaimer: The articles in this section solely represent the personal views of the author and are not related to the positions of the Export-Import Bank of China.

The Future of China’s Party-led Policy Bank Development from the Historical Perspective

Research Group at the Board of Directors Office of China Eximbank


　　This article takes a historical perspective to analyze the background, development pattern and significance of China’s policy-based finance with a sum-up of its features. In light of the guiding principles of the Central Financial Work Conference and with a focus on the practical level, this article probes into problems confronting the development of policy banks in China, with an aim to chart a new course for their future development. For more details, please refer to pages 18-21 of Issue 2 of Overseas Investment & Export Credits, 2024.
　　

International Practice of and Reflections to Policy Banking Legislation

WANG Gang, HUANG Yu and LIANG Xinya


　　The Central Financial Work Conference proposed that "it is essential to strengthen the rule of law in the finance sector and to promote legislation in key and emerging areas in a timely manner, so as to safeguard the development of the financial industry." Policy banks have undergone three decades of development in China, playing an important role in serving national economic development strategy and the macro-control. However, there is no specific legislation for policy banks in China at present, and the main applicable regulation also has problems such as low level of effectiveness and incomplete content, which is not compatible with the important position of policy banks in economic and social development. The above-mentioned factors have resulted in problems including the homogenization in business as well as the weak long-term capital mechanism, which have become the bottlenecks in the high-quality development of policy banks. Developed countries like German, the United States and Japan have set up policy banks in early years, and their corresponding legislation and practice can be reference for China. It is recommended to take comparative analysis and adaptive approaches based on China’s economic system and the structure of policy-based financial system to work on formulating a specific law for policy banks which is compatible with China’s modern financial system with Chinese characteristics. For more details, please refer to pages 22-26 of Issue 2 of Overseas Investment & Export Credits, 2024.
　　

The Role of Policy-based Finance in Counter-cyclical and Cross-cyclical Adjustments from the Comparative Perspective of Domestic and Overseas Practice

HUANG Yixuan and CHEN Xu


　　Policy-based finance both in China and abroad originates from the objective need of governments to regulate the economy, and plays an important role in smoothing out cyclical fluctuations and facilitating sustainable development. The differences between the policy-based finance mechanisms of China and developed countries mainly lie in investment, policy regulation, goal orientation and other areas. Suggestions for giving better play to the role of policy-based finance in counter-cyclical and cross-cyclical adjustments are as follows: First, improve the system of policy-based financial institutions and strengthen their cooperation with other domestic and overseas financial institutions; Second, innovate policy-based financial products and services in line with policies and market demand; Third, refine the risk management and performance evaluation mechanism to improve the capacity for sustained operation of policy-based finance; Fourth, strengthen the synergy between fiscal policies and monetary policies to fully release the structural adjustment function of policy-based finance. For more details, please refer to pages 27-30 of Issue 2 of Overseas Investment & Export Credits, 2024.
　　

Disclaimer: The articles in this section solely represent the personal views of the author and are not related to the positions of the Export-Import Bank of China.

China’s International Development Cooperation of Policy-Based Finance: Vision and Practice

ZHOU Yuyuan


　　The participation and influence of China in international development and global governance has been increasing. As an important participant and promoter of the international development cooperation with Chinese characteristics, China’s policy-based finance has played a vital role in promoting the development of other developing countries, the formation of a new international development financing system, the shaping of international development cooperation agenda, and the enhancement of the effectiveness of governance on international development financing. Going forward, it is necessary for China’s policy-based financial institutions to keep up with the international development trend and continue to expand and deepen international economic cooperation. For more details, please refer to pages 35-39 of Issue 2 of Overseas Investment & Export Credits, 2024.
　　

Effective Promotion of Development: Achievements, Challenges and Outlook of China’s Policy-based Finance in Supporting Sub-Saharan Africa Countries

SONG Wei and GAO Binxi


　　China’s policy-based finance has significantly contributed to improving Africa’s infrastructure, trade connectivity and people’s livelihood, and it plays an important role in promoting Africa’s sustainable development and deepening the traditional friendship between China and Africa. Nowadays, due to the shrinking of development financing from the international community to Africa, the slow progress of achieving UN 2030 Sustainable Development Goals in Africa, and Africa’s real needs for development, African countries have raised their expectations for China’s policy-based finance. Meanwhile, African countries are facing heavier debt burden, deteriorated debt structure as well as growing external debt risks and debt serving pressure. China’s policy-based finance is confronted with severe challenges in Africa. In the short run, China’s policy-based finance shall adopt flexible debt relief mode and strengthen its cooperation with the international community. In the medium term, it shall be oriented by development, expand its cooperation patterns, and intensify its efforts in promoting Africa’s development. In the long term, it shall proactively play a leading role in the reform of international development finance system so as to assist African developing countries in making their voice heard. For more details, please refer to pages 40-44 of Issue 2 of Overseas Investment & Export Credits, 2024.
　　

Disclaimer: The articles in this section solely represent the personal views of the author and are not related to the positions of the Export-Import Bank of China.
Address：No.30, FuXingMenNei Street, XiCheng District, Beijing 100031, P.R.China Tel：(8610)400-636-1616 Fax：(8610)6606 0636 SWIFT:EIBCCNBJ