Financial Support from Chinese Government

Chinacables is a subsidiary of China National Machinery Industry Corporation (SINOMACH), derived from the Ministry of Machinery and Electric Industry of China. SINOMACH is a large scale, state-owned enterprise group under the leadership of the State Assets Supervision and Administration Commission. It have exported 70% of power generation and transmission projects or equipments. As the main company for China to export its heavy equipments and machinery for power generation, transmission, telecommunication, metallurgy, automobile, railway, highway or road, China policy bank of China Import-Export Bank will provide financial support to Sinomach and its subsidiaries, including Chinacables, for their projects in the foreign markets in these industries.

In order to widen Chinacables' business scopes, it will cooperation with companies from Sinomach, such as CMEC, to compete in the world market for projects in power generation, transmission, telecommunication, metallurgy, automobile, railway, highway or road or other projects which is eligible for Chinese government preferential fund or loan support. According to China preferential loan policy, policy banks will finance for both Chinese export of mechanic and electronic products, complete set of equipment, and high- and new-tech products and undertaking of offshore construction contracts and overseas investment projects. Sinamach and Chinacables, CMEC are eligible to apply these loans and credits thanks to their technical, commercial strength in the world construction market and their key status in China's heavy machinery and equipment export section.

We usually provide three main financial supports for our projects in the foreign countries upon sovereign guarantee, reputable bank guarantee or other securities which are comfortable to us. The three financial funds or credits are:

	Chinese government preferential concessional loan
	Export buyer's credit
	Export Seller's Credit

If you are wondering what kinds of projects we can offer Chinese government financing loans or funds, you can just browse our group company's business scope, and it will give an idea, but financed projects are not limited to these.