The Shanxi branch of the Export-Import Bank of China has prioritized the expansion of foreign trade credit in recent years to serve the development of the open economy in North China's Shanxi province.

Since the start of the year, the bank has invested 4.29 billion yuan ($673.62 million) in credit funds in the various opening-up areas. 

As of the end of October this year, the branch's loan balance in the field of opening-up was 10.89 billion yuan, an increase of 4.07 billion yuan from the start of the year. 

The branch has offered eight categories of financial products including export seller's credits and foreign trade enterprise development loans. It has also included stock projects in the opening-up sector, which involves six major fields such as equipment and product exports, the trade in services and industrial investment, in the process targeting seven countries and regions.

It has also formed a reserve customer base and has steadily promoted its credit cooperation business after investigating the operation and financing needs of 100 leading import and export businesses in Shanxi. 

In March, the branch optimized its original financial products and set up 10 product systems in detail. This was seen as further improving its range of financial products for Shanxi enterprises to expand into overseas markets.

During the 14th Five-Year Plan period (2021-25), the bank will join hands with Shanxi enterprises to consolidate their existing international markets, explore emerging international markets, incubate new entities in foreign trade, and improve the quality and efficiency of imports and exports.