Bank helps firms with low-cost financing

Chinese companies often face financing difficulties when they expand internationally due to the lack of information about their credit history overseas. However, this is providing several business opportunities for Bank of China Ltd, the most internationalized bank in the country, an official said.

Zhu Yun, general manager of the corporate finance department of BOC's branch in Xinjiang Uygur autonomous region, said: "At present, most Xinjiang-based companies that are going global can not seek funds at lower costs with offshore debt issuance, nor do they receive wide recognition from international investors in terms of enterprise credit. This has restricted the competitiveness of Chinese companies overseas and affected the scale and speed of their international expansion."

Bank of China, the nation's fourth-largest lender by assets, is turning this challenge into an opportunity for business growth by helping domestic companies build credit and receive low-cost financing worldwide.