Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) has signed a Comprehensive Cooperation Agreement regarding commercial banking with the Export–Import Bank of China, a major state–owned financial institution.
The Export–Import Bank of China is a fully state–funded and state–owned financial institution established in 1994. Since its foundation, the bank has provided financial support for Chinese companies’ foreign trade operations. In recent years, the bank has also been instrumental in supporting the financial aspects of China’s Belt and Road Initiative.
China has continued to promote trade liberalization through actions such as reducing import duties and relaxing regulations in the financial and automotive sectors. Foreign direct investment in China is expected to further increase going forward. Additionally, regions that have been designated for development under China’s Belt and Road Initiative are also expected to be targeted for increased foreign investment.
This Comprehensive Cooperation Agreement is intended to provide enhanced services for companies seeking to enter or expand business in China or in countries along the Belt and Road. Mizuho Bank will work with the Export–Import Bank of China to provide clients with economic and business insight on China and the Belt and Road economic corridors as well as provide a broad range of financial services including trade finance and project finance with the ability to handle renminbi–denominated transactions.
By entering into this Agreement, we will be able to provide more tailored support for clients’ business expansion needs and contribute to the economic development of China and the countries along the Belt and Road.