Exim bank's first overseas branch established in Paris

The Export-Import Bank of China (China Exim bank) announced on Tuesday that it has established a branch in Paris.

This is the first overseas branch of the China Exim bank which became the third Chinese bank to establish a branch in Paris, following the Bank of China and Industrial and Commercial Bank of China.

"The creation of Paris branch allow China Exim Bank possessing a financial services platform closer to its market and clients in Europe," said Li Ruogu, president of China Exim bank, adding that it would benefit Sino-French and Sino-European economic and commercial cooperation.

The establishment of China Exim bank's Paris branch means that Chinese banks think highly of the strategic significance of Paris with its role as an international financial center, and have full confidence in Sino-French cooperative perspective in economic and commercial fields, said Wu Xilin, commercial counselor of the Chinese embassy in Paris.

"The establishment of a Chinese bank in France means not only the arrival of a new Chinese company, but also a guarantee that the bank will attract other (Chinese) companies to France," said Serge Boscher, managing Director of the Invest in France Agency.

Founded in 1994, the Export-Import Bank of China is a state bank solely owned by the Chinese government. Its main mandate is to facilitate the export and import of Chinese products, assist Chinese companies with comparative advantages and promote international economic cooperation and trade.

The Bank, headquartered in Beijing, has more than 20 domestic business branches and two other overseas representative offices, one in South Africa and one in Russia.