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China Exim Bank’s Paris Branch Officially Open

The Export and Import Bank of China’s branch in Paris, France officially opened for business on October 29. This is China Exim Bank’s first overseas business branch. More than 100 people, including French politicians, the financial and business community, as well as representatives from the EU mission attended the opening ceremony. The president of China Exim Bank, Li Ruogu, Chinese Embassy official Wu Xilin, and the Managing Director of the Invest in France Agency, Serge Boscher, jointly inaugurated the Paris branch.

Li Ruogu said that the Paris branch will offer China Exim Bank a financial service platform closer to the European market and customers and will provide a full range of more convenient specialized financial services for Sino-French and Sino-European companies. Wu Xilin said that, with China Exim Bank’s Paris branch, three Chinese banks now have a foothold in Paris. This indicates that China’s banks are paying increasing attention to Paris for its role of international financial center and are confident in the prospects for Sino-French economic and trade cooperation.

Boscher said that France hopes the trend of investment from China can be sustained and expanded. The establishment of China Exim Bank’s Paris branch indicates not only that one Chinese enterprise has entered the French market, but that more Chinese enterprises will be driven by its financial support to invest in France.

Source: Xinhua, October 30, 2013