Li Jun: Contributions and Explorations of China Eximbank in Financial Services for the Belt and Road Initiative

Source: World Finance Forum (WFF)

Published: 2021-06-16

On May 12, 2021, the Belt and Road Forum for International Financial Cooperation and the 4th World Finance Forum was successfully held in Xi’an, China. It was co-hosted by the World Finance Forum and the People’s Government of Shaanxi Province, organized by the Financial Supervision and Administration Bureau of Shaanxi Province and Shaanxi Provincial Convention and Exhibition Center, and co-organized by Shaanxi Financial Asset Management Co., Ltd. On behalf of the Export-Import Bank of China (China Eximbank), Vice President Li Jun delivered a keynote speech.

Li Jun

Li Jun remarked that for countries along the Belt and Road, the top priority of the moment is to strengthen pandemic control by implementing effective control measures and carrying out international cooperation on vaccines so that their economy will pick up and resume normal growth. Only by repairing the economic fundamentals as soon as possible can they attract more investment and harvest fruitful outcomes.

Li Jun mentioned that there are three urgent and important tasks to be done to promote the economic and social development of the countries along the Belt and Road. The first is to overcome the impact of the pandemic and solve problems hindering development. The second is to pursue open and inclusive measures that will enhance cooperation on industry chains and supply chains. The third is to expand two-way trade and investment while upholding mutual respect and trust.

Li Jun summarized that since China proposed the Belt and Road Initiative (BRI) seven years ago, China Eximbank, a key financier for BRI projects, has made fruitful contributions and constructive explorations in delivering financial services targeted at BRI projects. First, it has pursued collaboration to boost the synergy of financial support on the basis of mutually beneficial and win-win cooperation. Second, it has committed to green development by increasing support to sustainable development. Third, it has adhered to the market-based principle by exploring financial innovation that echoes diversified financial needs.

Li Jun concluded that development is the master key to solving all problems. With the key at hand, it is only a matter of time to unlock the shackle of debt. By offering syndicated loans and co-financing together with its correspondent banks and carrying out third-party market cooperation, China Eximbank has strengthened cooperation with multilateral and bilateral commercial and development financial institutions and insurance institutions, so as to share risks and benefits through complementary partnerships.