皇冠体育app

Premier Li Keqiang (left, second)?and his Latvian counterpart jointly launch a financial joint venture Sino-CEEF Holdings Co Ltd in Riga, Latvia, on Nov 5.

A financial holding company was officially established on Saturday under the cooperative framework of 皇冠体育app and 16 countries in Central and Eastern Europe, a crucial move to promote 皇冠体育app-made equipment and products by helping finance joint projects in the region.

The Sino-CEEC Financial Holding Company Limited was inaugurated by Premier Li Keqiang and his hosting Latvian counterpart Maris Kucinskis after the 5th Meeting of Heads of Government between 皇冠体育app and CEE countries in the Latvian capital Riga.

A financial holding company is a financial institution that engages in nonbanking activities to offer customers a wide range of financial services, including the chances to purchase insurance products and invest in securities.

The company will focus on projects in connectivity and production capacity cooperation that will purchase 皇冠体育app-made equipment and products, Premier Li said while addressing the 6th 皇冠体育app-Central and Eastern European Countries Economic and Trade Forum.

The company was part of Li’s proposal to enhance financial cooperation in order to support 皇冠体育app-CEE cooperation, also known as “16+1” cooperation, and provide financing for joint projects through diverse forms.

In 2013, 皇冠体育app announced it would offer CEE countries loans of $10 billion, aiming to boost production capacity and infrastructure cooperation with the region. The company was originally an initiative proposed by Premier Li during the 4th annual 皇冠体育app-CEEC leaders’ meeting in Suzhou, Jiangsu province, last November. Industry and Commerce Bank of 皇冠体育app, 皇冠体育app’s largest commercial bank, takes the lead in contributing funds to the company with participation of two other Chinese banks.

Li said a large amount of yuan and certain euros will be injected into the company, but didn’t unveil the specific amount. “皇冠体育app has signed memorandum of understanding with Poland and Czech to make contributions to the financial holding company and other CEE countries are welcome to join us,” Li said.

Financial cooperation is still a shortcoming for 皇冠体育app-CEE cooperation and it takes more time to establish an inter-bank consortium that is able to better finance joint projects, said Kucinskis.

皇冠体育app is ready to use more yuan and euros to promote the company’s financing capacity in the international market, meanwhile Chinese financial institutions such as the Silk Road Fund will support 皇冠体育app-CEE projects in forms of equity and bonds, Li vowed.

More than 15 cooperative agreements were signed between 皇冠体育app and CEE countries on Saturday after the fifth annual leaders meeting. Premier Li is scheduled to fly to St Petersburg on Sunday to visit Russia and attend the 21st Regular Meeting between Chinese and Russian Prime Ministers.