The cooperation agreement sets out an intent to cooperate in the development of trade and energy, infrastructure and engineering projects in Australia and the Asia Pacific Region.
The agreement focuses on the provision of structured export finance and project finance and was signed in Beijing by ANZ CEO Mike Smith and Li Ruogu chairman and president of China Eximbank.
Smith said this agreement this agreement extends the existing cooperation between China Eximbank and ANZ. It establishes a wide-ranging basis for cooperation including access to ANZ’s resources and infrastructure capabilities, finance facilities and offshore Renminbi Bonds, and market insights through the ANZ network in Australia, New Zealand and Asia Pacific.
China Eximbank is wholly owned by the Chinese government and is a key channel for financing of Chinese import and export of mechanical and electronic products, equipment and for offshore construction contracts and investment projects by Chinese companies.
ANZ is one of the Australia’s major natural resources bank with a significant presence in China.
ANZ China was locally incorporated in October 2010 and has a presence in Beijing, Shanghai, Guangzhou and Chongqing, and a Rural Bank in Liangping.
ANZ also has strategic partnerships with Shanghai Rural Commercial Bank and Bank of Tianjin.
