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China’s Export-Import Bank Doles Out 20 Billion Yuan to Support Press and Publication’s “Going Out

On July 3, 2012, in Beijing, China’s Press and Publication Administration and the Export-Import Bank jointly signed  “the cooperation agreement on supporting the press and publication industry for going out (going overseas), using key enterprises and key projects.” Liu Binjie, Director of the Press and Publication Administration and Li Ruogu, Director of China Export-Import Bank signed the agreement on behalf of the two parties. The agreement indicates that, over the next five years, the Export-Import Bank of China will provide no less than 20 billion yuan (about US$3 billion) to press and publishing companies in support of their efforts to go overseas.

Wu Shulin, Deputy Director of the Press and Publication Administration, said that “the strategic cooperation to jointly support China’s press and publishing industry to go out is a major step in implementing the Communist Party’s spirit of the Sixth Plenary Session and the ‘12th Five-Year Development Plan of China’s press and publication industry.’”

Source: People’s Daily, July 4, 2012/7/5