About Us   Jobs   Contact Us      


 
Google  

China, U.S. Inject 20 Bln USD Trade Finance to Boost Global Commerce
    2008-12-05 13:20:33     Xinhua

U.S. Treasury Secretary Henry Paulson says the discussions in the two days of the fifth round of the China-U.S. Strategic Economic Dialogue (SED) are productive at a press conference after the SED session concludes on Friday, December 5, 2008. [Photo: CRIENGLISH.com]

China and the United States on Friday said they would inject 20 billion U.S. dollars for trade finance to buoy up the global commerce.

"The two export-import banks (in United States and China) will make available an additional 20 billion U.S. dollars for trade finance, particularly for creditworthy importers in developing countries," U.S. Treasury chief Henry Paulson told the press.

Paulson said this at the end of the two-day China-U.S. Strategic Economic Dialogue(SED) in Beijing.

The move came at a time when the current financial turmoil impaired access to trade finance to help emerging market businesses and consumer purchase imports.

According to a SED fact sheet, the U.S. Export-Import Bank will provide additional resources of 12 billion dollars and the Export-Import Bank of China will offer additional resources of up to 8 billion dollars to assist in the financing of the export of China and U.S. goods and services.

The twice-yearly SED, initiated by the two presidents, is currently the highest-level economic dialogue between the two nations.

 
Share

               
Recommend


CRIENGLISH.com claims the copyright of all material and information produced originally by our staff. No person, organization and/or company shall reproduce, disseminate or broadcast the content in any manner whatsoever without the express written permission of CRIENGLISH.com.

CRIENGLISH.com holds neither liability nor responsibility for materials attributed to any other source. Such information is provided as reportage and dissemination of information but does not necessarily reflect the opinion of or endorsement by CRI.

Also on our site
China | World
• Russian Natural Gas Supplies to Balkans Halted
• Three Israeli Soldiers Killed in Friendly Fire in Gaza
• Polanski's Lawyers Seek to Have Sex Case Dismissed
• Foreign Journalists still Not Allowed into Gaza
• US VP-elect Joe Biden to Visit Pakistan
• China Curbs Overseas Trips on Public Expense
Business | Sports | SciTech
• China Issues Long-awaited 3G Licenses
• Wahaha, Danone Start Trademark Arbitration
• GM Reports 31 Percent Sales Decline in U.S. Market
• Call for More Overseas Talents
• Bulgarian Figure Skating Champion Sentenced to 2.5 Years in Prison
• China's Mission to Mars Set for Take-off
Life | Showbiz
• A Seemingly Endless Scandal
• Asian Art Top Show Kicks off in Beijing
• Behind-the-Scene Photos of "Look for a Star"
• Universal Pictures Movies Set New B.O. Record in 2008
• Tan Dun's Deep Pool of talent
• Top 10 Shows in 2008 
Webcast  
• China Drive, Afternoon, 2009-01-07
• China Drive, Afternoon, 2009-01-06
• China Drive, Morning, 2009-01-06
• Official Property Declaration System
• India handed over evidence of Mumbai attacks to Pakistan
• EU delegation holds talks to push for a cease-fire in Gaza
• Mubarak Meets with EU Troika on Gaza Situation
• Bush says any Gaza ceasefire must stop Hamas rocket fire
 
View the Messages