BEIJING – A business development mission is headed to China for meetings Nov. 5-10. Fred Hochberg, chairman and president of the Export-Import Bank of the United States (Ex-Im Bank), is leading the mission, which has meetings scheduled in Beijing, Tianjin and Shanghai to promote President Obama's National Export Initiative and seek opportunities for American companies to sell more products and services to this growing market.

Chinese sectors representing opportunities for American companies are agricultural and food products, including beef; turbine engines for railway products; information technology and medical products.

"The US and China have a unique and long-lasting relationship and that is why Ex-Im Bank supports projects that benefit both countries," Hochberg said. "Over the last decade, US exports to China have increased, yet the country accounts for only 2 percent of the Bank's portfolio. That number needs to grow. I have seen firsthand the enormous opportunities for US exporters in China, and Ex-Im Bank will continue to encourage American business owners to explore this dynamic market."

Hochberg said the Ex-Im team that he brought to China "has come to get a better understanding of the market so that we can identify opportunities to more effectively promote the sovereign loan program."

Ex-Im Bank is an independent federal agency that helps create and maintain US jobs by filling gaps in private export financing at no cost to American taxpayers.