China

This country level trade brief summarizes insights from the world trade indicators database as well as analyzes national impacts and responses to the food crisis and... Show More + global recession. The trade at a glance tables for China provide a snapshot of key aspects of trade policy and performance. Show Less -

The Yangzhou and Zhejiang Thermal Power Projects involve construction of large, coal-fired thermal power plants and expansion of related transmission networks, and represent... Show More + a major expansion in the generating capacity of their respective provinces (about 15 percent in Jiangsu and 27 percent in Zhejiang). Partial credit guarantees were used for both projects. The partial credit guarantee covers a portion of a financing against all risks. This contrasts with the partial risk guarantee, which can cover up to the entire amount of a financing against specific risks. The guarantees were structured to extend the maturity of commercial loans and provide China with greater flexibility in accessing world financial markets, e.g., interest rate (fixed or floating) and currency (to match procurement contracts). At the same time, the Government and Bank wished to minimize their exposure under the guarantee. This report discusses the borrowing terms and guarantee structure for each project and their respective costs and benefits. Show Less -