Skip to main content

Santander taps into China’s Road and Belt for trade finance

https://www.verdict.co.uk/leasing-life/news/contract-news/santander-trade-finance-china-belt-road/

Santander taps into China’s Road and Belt for trade finance

By Lorenzo Migliorato  April 12, 2018

Santander will provide trade finance to enterprises involved in China’s “Road and Belt” cross-country infrastructure initiative.

The Spanish banking group has signed a memorandum of understanding with Bank of Shanghai to jointly financials services to Chinese companies involved in Road and Belt projects overseas, with a focus on Europe and Latin America.

Services will include trade finance, settlement and corporate and investment banking.

Antony Hung, regional head for Asia Pacific, Santander Group, said: “I firmly believe that Santander, through its close cooperation with Bank of Shanghai, will make the most of the regional complementarity of both institutions and become a firm practitioner of the Belt and Road initiative”.

Belt and Road, also known as the “New Silk Road”, is a Chinese government-backed initiative to build a trade infrastructure route connecting central and southern Asia with eastern and central Europe.

Because of the breadth of the investment – Santander said eight of its nine core markets are situated along the path of Belt and Road – and the low-risk profile of trade finance, the project has attracted the interest of the European financial services sector as well as government agencies.

The UK has been looking at Belt and Road as an opportunity to hedge against its departure from the EU single market in 2019. Following a Chinese delegation’s visit in December, UK Export Finance (UKEF) pledged up to £25bn (€28.8bn) to invest in countries along Road and Belt, in order to support UK firms’ involvement.

A UK government-back $1bn (€811m, £704m) investment fund has also been set up to finance Belt and Road projects, bringing together a number of private British institutions and led by former PM David Cameron.

Some analysts have raised concerns about the financial robustness of the project. In September, rating agency Moody’s warned about the weak financial profile of the countries involved in Belt and Road, and noted that imports to those countries had stagnated in recent years.

Additionally, it questioned the preponderance of Chinese state-backed banks in financing the initiative, which it said could induce “a negative shift away from international financial institutions in the financing structure of some Belt and Road countries

Comments

Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed.
Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area”
For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number”
Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell you …

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…

The Rise of China-Europe Railways

https://www.csis.org/analysis/rise-china-europe-railways

The Rise of China-Europe RailwaysMarch 6, 2018The Dawn of a New Commercial Era?For over two millennia, technology and politics have shaped trade across the Eurasian supercontinent. The compass and domesticated camels helped the “silk routes” emerge between 200 and 400 CE, and peaceful interactions between the Han and Hellenic empires allowed overland trade to flourish. A major shift occurred in the late fifteenth century, when the invention of large ocean-going vessels and new navigation methods made maritime trade more competitive. Mercantilism and competition among Europe’s colonial powers helped pull commerce to the coastlines. Since then, commerce between Asia and Europe has traveled primarily by sea.1Against this historical backdrop, new railway services between China and Europe have emerged rapidly. Just 10 years ago, regular direct freight services from China to Europe did not exist.2 Today, they connect roughly 35 Chinese…