Chi­nese banks de­velop ship fi­nanc­ing mar­ket

The Pak Banker - - Company& -

BEIG­ING: China may be a ma­jor force in in­ter­na­tional ship­build­ing but Chi­nese banks only have a five per­cent share of the in­ter­na­tional ship fi­nanc­ing mar­ket, re­ports Guangzhou Daily, cit­ing Lin Shun­hui, the vice di­rec­tor of the Shang­hai branch of China Con­struc­tion Bank.

Ac­cord­ing to statis­tics, the amount of ship fi­nanc­ing by the top 10 global syn­di­cates dropped by about 60 per­cent year-on-year in the first half of 2010.

Mean­while, sev­eral Chi­nese banks, in­clud­ing In­dus­trial and Com­mer­cial Bank of China ( 601398, 1398. HK), Bank of China (601988, 3988.HK) and China Min­sheng Bank­ing Cor­po­ra­tion ( 600016, 1988. HK) have started to de­velop the ex­port credit busi­ness, ship leas­ing and re­lated fi­nanc­ing ser­vices.

Ac­cord­ing to statis­tics re­leased at the be­gin­ning of 2010 by Ger­man­is­cher Lloyd, a to­tal of 15 ship­yards in China had in­vested about 40 bil­lion yuan to ex­pand their busi­ness. This in­creased their fi­nanc­ing de­mands. - PB News

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