Meeting with European Bank of Reconstruction and Development

2016-09-03 | Beijing

Mr. Claudio Viezzoli, Managing Director of SME Finance & Development informed the European Chamber that China joined in European Bank of Reconstruction and Development in 2016, therefore, the bank is now looking at potential projects in China, mainly focus on building SME funding and providing financial products to Chinese banks. The bank has developed projects over 40 countries around the world, SME Development has been important for world trade, therefore, the bank is looking forward to working with AIIB, BOC and European banks in China to provide support to SME development. Erica Wang, EU SME Working Group coordinator presented the Inter-Chamber SME Working Group Position Paper to the Managing Director, and explained the four major difficulties of SMEs in China: 1) Access to Finance 2) Late payment 3) Complication of administrative process 4) IPR issue. Regarding to the access to finance, European SMEs have limited access to information and Chinese banks provide no flexible bank lending or financial solutions to SMEs. It is indeed a positive progress if European Bank of Reconstruction and Development is going to provide both Chinese and European SMEs more access to financial solutions.