CHINA

Import-Export Bank to Sell Bonds Overseas: The Import & Export Bank of China is turning to overseas bond markets to provide the nation’s infant high-tech industry with funds needed to crack global markets, the official China Daily reported. The bank, which was formally established on Friday, plans to extend 3 billion yuan ($347 million) in low-interest loans to machinery and electronics exporters this year. The bank is also reviewing requests for another 10 billion yuan in loans, the paper said. “It is time for us to focus more on high-tech and value-added exports,” said Tong Zhiguang, bank chairman and a former vice minister of foreign trade. “The birth of the bank is a natural response to that need.” The bank will help Chinese companies win contracts in developing countries by providing export insurance and arranging financing for such projects.