CHERY, the automobile manufacturer in China, and China Eximbank, signed a strategic cooperation agreement showing further support for the automotive brand.

The 10-Billion RMB agreement will help Chery implement its “Going Abroad” strategy at a higher level and wider range, which involves the export supplier’s credit, technology and equipment imports, international trade financing, and clearing business.

Wan Gang, vice chairman of CPPCC National Committee and minister of Ministry of Science and Technology; Wang Jingshan, secretary of the Anhui Provincial Party Committee; Wang Sanyun, governor of Anhui Province; Li Ruogu, president of China Eximbank; Yin Tongyao, president and general manager of Chery; and top leaders of the National Development and Reform Commission, Ministry of Commerce, Ministry of Science and Technology attended the signing ceremony.

Yin Tongao, president and general manager of Chery, said, “So far, Chery has entered another phase of rapid growth. The average annual sales volume of Chery cars has increased by 30 percent for the third consecutive year from 2004.”

He added, “For the previous 10 months of year 2008, Chery exports has mounted up to USD 0.813 billion. The Chery international competency continues to strengthen.”

China Eximbank and Chery strongly believe that the agreement beckons a significant step in keeping businesses succeed in times of global financial crisis. China Eximbank plays the role of policy-related bank for Chery and provides support for the car manufacturer’s exports of national enterprises.

For Bisaya stories from Cebu. Click here.

(January 14, 2009 issue)
Write letter to the editor.Click here.