Export Credit Agencies and Environmental Standards: China
By Peter Bosshard December 2006
International Rivers Network
The growing importance of China Exim Bank In China, approximately one fifth of humanity lives on only 7% of the world’s cultivable land. The country does not have sufficient reserves of oil, timber or mineral resources to sustain its rapid economic growth. Foreign investment and trade contracts help to secure the resources which China lacks at home. Exports also help to overcome the permanent employment crisis which China’s rapid rural transformation has created.
In line with the country’s "going out" strategy, China joined the World Trade Organization in 2001. Since this date, China’s foreign trade has grown by 20 percent every year. The country is expected to become the world’s second-largest exporter after the United States in 2006 or 2007. China’s export credit and guarantee agencies -- in particular China Export-Import Bank and Sinosure -- have played an important role in fostering the rapid expansion of Chinese trade and overseas investment. In 2005, China Exim Bank approved loans with a volume of RMB 158.6 billion (approximately $20 billion)...
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International Rivers Network
The growing importance of China Exim Bank In China, approximately one fifth of humanity lives on only 7% of the world’s cultivable land. The country does not have sufficient reserves of oil, timber or mineral resources to sustain its rapid economic growth. Foreign investment and trade contracts help to secure the resources which China lacks at home. Exports also help to overcome the permanent employment crisis which China’s rapid rural transformation has created.
In line with the country’s "going out" strategy, China joined the World Trade Organization in 2001. Since this date, China’s foreign trade has grown by 20 percent every year. The country is expected to become the world’s second-largest exporter after the United States in 2006 or 2007. China’s export credit and guarantee agencies -- in particular China Export-Import Bank and Sinosure -- have played an important role in fostering the rapid expansion of Chinese trade and overseas investment. In 2005, China Exim Bank approved loans with a volume of RMB 158.6 billion (approximately $20 billion)...
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