ANNOUNCEMENT 28 Mar 2019
On March 28, 2019, Japan Bank for International Cooperation (JBIC) announced providing a loan for the purchase of construction equipment for the Shanghai Sumitomo Mitsui General Finance and Leasing Co., Ltd (SMFLCHS).
NUMBER OF INTERVENTIONS
JBIC (2019) 中華人民共和国における建設機械のリース事業に対する人民元建て融資 「RMB loan for construction machinery leasing business in China」
On March 28, 2019, Japan Bank for International Cooperation (JBIC) announced a 500 million RMB (74.29 million USD) loan for the purchase of construction equipment by the Shanghai Sumitomo Mitsui General Finance and Leasing Co., Ltd (SMFLCHS). An additional 334 million RMB worth of loans will be provided by the Sumitomo Mitsui Banking Corporation. The purchased construction equipment will be leased out in China by SMFLCHS. Despite the main shareholder being the Japan-based Sumitomo Mitsui Finance and Leasing Co., SMFLCHS was established in Guangzhou, China in 1996. According to SMFLCHS's website, the main products leased are semiconductors, manufacturing equipment, machine tools, printing machines, construction machinery excavator, wheel loaders, and bulldozers.
*The GTA includes various financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.