Lending a helping hand around the world

Major State-owned banks are planning to offer a wide range of financial products to support the expansion of Chinese companies in overseas markets, reports Jiang Xueqing.

China's large State-owned lenders are planning to offer a slew of financial products in global markets, with an eye on the growing business opportunities arising from the overseas moves of domestic companies.

Industrial and Commercial Bank of China Ltd, the nation's largest lender by assets, had provided financial support worth $22 billion to help Chinese companies expand their businesses in 46 countries and regions by the end of June 2014. The companies covered more than 10 major sectors, including telecommunications, transportation, coal, oil and gas, manufacturing and construction.