THE "BRIDGE" THAT STARTED AT THE XIAMEN - A 40-YEAR CHRONICLE OF XIAMEN INTERNATIONAL BANK

XIAMEN, China, Dec 1 (Bernama) -- For the past four decades, a financial bridge in Xiamen that began in the early days of reform and opening-up has extended from the Xiamen Special Economic Zone across Fujian and onward to overseas Chinese communities around the world. Established in 1985, Xiamen International Bank has taken root in the Special Economic Zone, expanded nationwide, and built global connections, actively participating in and witnessing the development of China's financial opening-up.

Bridge of the special economic zone: linking Xiamen to international financial markets from the very beginning

In its early years, Xiamen International Bank supported the construction of the Special Economic Zone while helping to bring in international capital. In 1986, the bank served as the issuing agent for the first phase of bonds for the Xiamen Bridge. This issuance was particularly significant because it introduced a new financing model in China: for the first time, highway construction was funded through a combination of state investment and locally issued bonds. The bonds were enthusiastically subscribed by compatriots from Hong Kong and Macao as well as local residents, providing vital funding for Xiamen's cross-island development. Around the same period, the bank introduced the expertise of Hong Kong and Macao banks in mortgage lending and became one of the first banks in China to offer housing mortgage loans. It also opened a remittance channel via the United States at a time when direct cross-strait clearing had yet to be established, enabling telegraphic transfers from Taiwan to be credited within two days.