In order to help boosting oversea investment of Hubeis enterprises and further promote its influence in international business cooperation, a joint introduction conference was held by Hubei Branch of China Development Bank (CDB), Commerce Department of Hubei Province and China Export & Credit Insurance Corporation (SINOSURE) on July 30, 2012 in Wuhan, Hubeis capital in central China to help Hubeis enterprises explore oversea market.

In the introduction conference, the heads of CDBs sections in Mozambique, Zimbabwe, Angola and Portugal introduced several fields in need for investment. More than 20 Chinese key enterprises as China Railway Major Bridge Engineering Group, China Gezhouba Group Corporation and China First Metallurgical Construction Group Corporation have paid much attention on the potential business opportunities.

Centered on Chinas foreign economic and trade policy and leverage effect of pivot position of Hubei, CDB Hubei Branch has strengthened the launch of bank credits, increased the efforts in program development and created platforms of foreign exchange in recent years.

In Portugal, CDB Hubei Branch seized opportunities and issues credits of over 1 billion Euros (US$1.23 billion) while in Angola, CDB Hubei Branch successfully facilitated the ink of a new round of cooperative agreement of over US$2.5 billion between its head office and Angolas Ministry of Finance. It also initiated cooperation of more than US$2 billion with Angolas oil companies.

By the end of Q2, foreign exchange loans balance of CDB Hubei Branch has reached US$8.27 billion which is accounted for 65.4 percent of foreign exchange loans in Hubei banking system.(hubei.gov.cn)