China EximBank issues bonds to support production resumption in Shanghai

BEIJING - The Export-Import Bank of China (China EximBank), a State-owned policy bank, has issued financial bonds worth 5 billion yuan ($749.7 million) to facilitate the resumption of production and work in Shanghai.

With a one-year maturity and an interest rate of 1.79 percent, the bonds were issued in the interbank bond market. The subscription ratio reached 4.62 times.

The funds raised will be used to promote work and production resumption in Shanghai, according to the bank.

The bank said it has introduced a series of measures to support foreign trade, aid anti-epidemic efforts and help micro, small and medium-sized enterprises since the beginning of this year.

As of June 1, Shanghai has largely returned to normal production and life after two months of closed-off management to contain the COVID-19 resurgence.