Map Credit: U.S. State Department
FROM: U.S. EXPORT-IMPORT BANK, CHINA, FINANCING FOR CHINESE COMPANIES, U.S.-CHINA TRADE
Ex-Im Bank Chairman Concludes China
Business Development Trip
Chongqing, China – Fred P. Hochberg, the
chairman and president of the Export-Import Bank of the United States (Ex-Im
Bank), led a business-development mission in China this week where he met with
local officials and identified new business opportunities for American
companies. Hochberg traveled to Beijing, Chengdu, Tianjin, and
Chongqing.
“China is a dynamic market, and there are
enormous opportunities for American businesses to sell to Chinese customers,”
said Hochberg. “Over the next several years, China is expected to make
significant infrastructure investments, and U.S. companies, workers, and
products should be involved in those projects.”
While in China, Hochberg met with leading
business organizations, including members of AmCham Southwest China and PCH
International. Hochberg also held meetings with Vice Governor Gan Li, Mayor Ge
Honglin, Mayor Huang Qifan, and Party Secretary Zhang Dejiang.
Ex-Im Bank’s volume is increasing in
China. In FY'12 year-to-date, the Bank has authorized $1.2 billion in financing
for Chinese companies that purchased U.S. goods and services, up from $586
million in FY’11. As of July 2012, China ranked fourth in new authorizations for
Ex-Im Bank.
About Ex-Im
Bank:
Ex-Im Bank is an independent federal
agency that helps create and maintain U.S. jobs by filling gaps in private
export financing at no cost to American taxpayers. In the past five years, Ex-Im
Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations.
The Bank provides a variety of financing mechanisms, including working capital
guarantees, export-credit insurance and financing to help foreign buyers
purchase U.S. goods and services.
Ex-Im Bank approved $32.7 billion in total
authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more
than $6 billion directly supporting small-business export sales -- also an Ex-Im
record. Ex-Im Bank's total authorizations are supporting an estimated $41
billion in U.S. export sales and approximately 290,000 American jobs in
communities across the country.