EximBank funds German purchases of Chinese ships

A state-owned Chinese policy bank tasked with financing Chinese exporters has agreed to lend 1.12 billion US dollars to two German shipping firms in order for them to buy Chinese ships with high-end green technologies.

The Export-Import Bank of China (EximBank) signed the financial support contract on Friday with Peter Dohle and Bernhard Schulte, the second and third largest shipping enterprises in Germany.

The Eximbank said the deal will enhance the German shipping sector's confidence in China, making it more likely that major players will place orders with Chinese shipyards.