Yunnan Construction Investment and Agricultural Bank of China Kunming Branch jointly launched the country's first export seller credit under the credit insurance program.

3 On February 22, in close cooperation with the Agricultural Bank of China's Kunming branch, the group successfully implemented the first 280 million yuan export seller credit under the national Agricultural Bank's credit insurance for the cross-border engineering contracting project in the Laos Vientiane Saysatta Development Zone, marking a new step in bilateral cooperation overseas.

As a pioneer in Yunnan Province's 'going global' initiative, the group has always actively integrated into and served the national 'Belt and Road' initiative, seizing the development opportunities of building a China-Laos community with a shared future. Having engaged in business cooperation with Laos for over 20 years, it has become an important force in Laos' economic and social development, creating 'six firsts' in Laos: the first highway, the first national-level comprehensive development zone, the first Laos engineering quality inspection and testing center, the first modern business center, the first large-scale stadium, and the first high-rise building.

The Laos Vientiane Saysatta Development Zone is a national-level cooperation project jointly established by the governments of China and Laos. It is China's only national-level overseas economic and trade cooperation zone in Laos. After years of development, it has become an international production capacity cooperation zone and a 'South-South cooperation' low-carbon demonstration zone. It has been included in the 'China-Laos Community with a Shared Future Action Plan' multiple times and was selected for the 'Belt and Road' 'Memorandum of Understanding on Key Projects jointly built by China and Laos' in October 2023.

The development zone covers an area of 11.5 square kilometers and is the core area of Vientiane's new city. The political effect of the development zone is becoming increasingly prominent, and it has become a pioneering demonstration zone for the construction of a China-Laos community with a shared future. The economic and social benefits of the development zone are steadily improving. 142 global companies have entered the zone, including large enterprises such as Japan's Hauya, the China-Laos Railway headquarters, Jiangsu Zhongrun Photovoltaic, and Bede Garment. It is gradually forming industrial clusters in new energy, electronics manufacturing, textiles, and biomedicine, and has provided more than 7,000 jobs for local people in Laos. The integration of industry and city in the development zone is beginning to show results. As a 'South-South cooperation' low-carbon demonstration zone, environmentally friendly and low-carbon equipment such as LED solar streetlights, environmental monitoring equipment, and new energy vehicles have been put into use in the development zone.

The successful implementation of this export seller credit has injected strong momentum into the group's engineering construction projects in the Laos Vientiane Saysatta Park. In the future, both sides will continue to cooperate, following the development pace of the 'Belt and Road' initiative, and jointly promote deeper economic and trade exchanges and people-to-people exchanges between China and Laos.

Export seller credit is a medium-to-long-term financing facility provided by banks in the exporting country to exporters to support the export of capital goods and services such as electromechanical products, complete sets of equipment, and foreign engineering contracting. It is a very important support for Chinese enterprises' 'going global' and engineering contracting enterprises.