Bank of China

Foreign currency loan refers to the loan granted by the bank through the self-raising foreign currency fund, including five types of foreign currency, USD, EUR, GBP, JPY and HKD.

Features

1. It covers a comprehensive range of usage with main use of meeting customer's demands for foreign currency financing, including enterprises' demands for working capital and for fixed asset investment.

2. According to customer request, its lending interest rate can apply either floating rate or fixed rate. If required, the rate can be swapped from floating rate to fixed rate.

3. Compared with foreign government loans and buyer's credit of foreign banks, our bank's foreign currency loan can be more widely used and help customers purchase equipments and materials from foreign countries.

Currency Type

Five types including USD, EUR, GBP, JPY, HKD.

Interest Rate

The lending interest rate can apply either floating rate or fixed rate. If required, the rate can be swapped from floating rate to fixed rate.

Charges

All fees concerning foreign currency loan should be charged according to the loan contract.

Target Customers

Foreign currency loan is only available to enterprises. Economic entity with enterprise legal person qualification and loan repayment ability, an account of Bank of China, can apply for it.

Application Qualifications

1. Borrowers should be the enterprise (the undertaking) legal person, other economic organization, individual businesses approved by the industry and commerce administration authorities (or the competent authorities), with business license issued by the above authorities;

2. Funds must be used in legal, reasonable and profitable area;

3. The borrower should have foreign currency funds source, if not, it should have certificate of foreign exchange purchase for loan repayment, approved by the foreign exchange administration department;

4. Other relevant requirements of Bank of China.

Industrial and Commercial Bank of China

Foreign currency working capital loans are loans issued by Industrial and Commercial Bank of China to customers in order to satisfy borrowers' needs for reasonable use of foreign currency funds in their daily business turnover, using their future comprehensive income and other legal income or expected foreign exchange receipts as sources of repayment.

Suitable
A corporate borrower who has a background in the import and export of goods trade or service trade and is used for foreign exchange payment or settlement in accordance with foreign exchange management regulations. Foreign exchange working capital loans under imports are not allowed to settle; domestic foreign exchange working capital loans under exports can be paid for settlement or willing to settle foreign exchange for domestic raw material purchases or business turnover, and enter the current account foreign exchange settlement account and handle foreign exchange settlement in principle. It shall be repaid with self-owned foreign exchange or foreign exchange receipts from the export of goods trade.

Opening conditions
The borrower is established in accordance with the law; conforms to the national industrial policy and the credit policy of the Industrial and Commercial Bank of China; stable operation and good financial status; good credit status and no major bad credit records; meets other conditions required by the Industrial and Commercial Bank of China.

The opening of a special domestic foreign exchange loan account with Industrial and Commercial Bank of China complies with the current relevant management policy requirements of the State Administration of Foreign Exchange. Domestic enterprises registered in the free trade zone or overseas enterprises that have opened an account in the free trade zone shall implement the regulations of the regulatory authority on the free trade zone.