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Global Credit Line


 

Introduction

Global credit line is an extension of the application scope of traditional credit line products, and its major function is to fulfill the financing needs of enterprises' overseas affiliates. To be specific, answering to enterprises' strategy of cross-border development, global credit line takes advantages of Bank of China's far-ranging overseas branch networks to provide enterprises' overseas affiliates an overall financing package.

Features

1. It provides customers with prompt, comprehensive and standard bank services by easy and efficient cooperation mode.

2. It allows to economize the cooperation costs of the customer and the bank. By cooperation between enterprises and the bank, the operational procedures are simplified and financing efficiency is improved.

3. It can strengthen the customer's self-financing and centralized management. With the bank's help, the corporate headquarter conducts centralized control over its overseas affiliates' financing and thus enhances management of overseas operational risks.

Target Customers

Global credit line is a product tailored for large enterprise group customers dedicated to overseas development. Because of their high prestige, strong operating capacity, sound funds and technology strength, these customers are the bank's key target customers.

The table below compares two operating modes, namely the loan application of overseas affiliates with the domestic parent firm's guarantee and that of the bank's global credit line.

 

Application Qualifications

1. The group customer should be a domestically registered enterprise legal person;

2. The establishment of overseas affiliates has been approved by national competent authorities;

3. Foreign exchange registration for overseas investment has been completed in relevant administration authority of foreign exchange;

4. Overseas invested enterprise has been legally registered overseas;

5. The target business of overseas credit line accords with the "going out" strategy, the bank's credit line policy and enterprise's primary business;

6. The group customer should be a key customer at head office level and should rank above Grade A (inclusive) in Bank of China's credit rating system;

7. The applicant should provide counter-guarantee approved by Bank of China;

8. The applicant should meet other credit requirements of Bank of China.

Charges

Subject to relevant credit regulations of Bank of China

Process

Case

It has been a long history for Bank of China providing "global credit line". And its operating mode is rather mature. Early in 2000, Bank of China head office signed and accomplished a global credit line service agreement with a Korea invested corporate headquater. Under the framework of global credit line, the corporate headquarter located at Korea got a credit line from our bank's Seoul branch. Its affiliates located in China got credit lines from our bank's domestic branches. And its affiliates all over the world also got credit lines from our bank's overseas branches. On that basis, our bank provided comprehensive financing services, including international settlement, trade finance, foreign exchange, cash management, etc. to the corporate as well as its affiliates. Now, our bank has become one of the major Chinese-funded banks cooperating with large Korean enterprise groups. By the end of 2008, through global credit line, our bank had granted credit lines of USD 2 billion to large Korean enterprise groups and the corresponding volume of international settlement reached USD 10 billion.

With implementation of the "going out" strategy, the financing needs of "going out" enterprises' overseas affiliates are expanding dramatically. Our bank will further improve and promote "global credit line" to financially support domestic enterprises' overseas merger and acquisition, greenbelt investment, and makes the product a powerful instrument for Chinese enterprises' global development.

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