1st PMF Bancorp Provides Trade Financing to Vice President Xi Jinping’s Business Delegation Visiting Los Angeles

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PMF Bancorp, a leading US commercial lender, partner's with ChinaMart® Los Angeles to host event for China Vice President Xi Jinping's Business Delegation in order to increase US companies' access to trade financing and to facilitate increased sales for US companies.

Stephen Perl, CEO ChinaMart and PMF Bancorp to host Vice President Xi Jinping's Business Delegation

Vice President Xi Jinping

“US exports to China accounted for more than 7% of overall American foreign exports and will lead to significant job growth...”, states Mr. Vance Baugham, President of World Trade Center Los Angeles-Long Beach

Vice President Xi Jinping’s Business Delegation visiting Los Angeles in mid-February 2012 offers a strategic opportunity for US businesses to meet many large Chinese factories looking to enhance their trade with the US and to learn about 1st PMF Bancorp's specialized trade financing programs to support their lending needs. “Contrary to popular belief, China is not looking to sell goods only… they are now looking to buy goods from countries like the US. The Chinese consumers believe that the US makes the best quality goods in the world and they are buying whatever they can get their hands on. We need to start treating our country like a company and take advantage of this demand while we still have the opportunity,” states Stephen Perl, CEO of PMF Bancorp and author to his new book, “Doing Business with China: The Secrets of Dancing with the Dragon (2012)”.

“More than ever, the key to increased trade is to make the right financing available now, but most of the banks are still not lending,” explains Mr. Stephen Perl CEO of PMF Bancorp.

According to the Office of the US Trade Representatives (USTR), exports to China neared one hundred billion dollars, an increase of nearly a third over the previous year.

“US exports to China accounted for more than 7% of overall American foreign exports and will lead to significant job growth if we can continue to facilitate the trade growth”, states Mr. Vance Baugham, President of World Trade Center Los Angeles-Long Beach.

PMF Bancorp has formed a strategic partnership with the US Trade platform, ChinaMart® Los Angeles in order to facilitate US trade and assist small to medium size businesses gain access to trade financing for importing and exporting goods.

“I have been told by many Chinese officials over the last three years at my operations in China that their focus was now to encourage Chinese companies to buy foreign goods, especially from the US to balance the trade deficit as a large trade deficit is not good for either country in the long run,” states Mr. Perl.

"No matter what changes affect the international situation, our commitment to developing the Sino-U.S. cooperative partnership should never waver in the face of passing developments," Vice President Xi told a meeting in Beijing. (reported by: Chris Buckley, Reuters 1-16-12)

“PMF Bancorp looks forward to welcoming the Vice President and his Business Delegation and to support the trade financing needed to facilitate the continued economic growth in trade between our two great countries," asserts Mr. Perl.

ABOUT 1ST PMF BANCORP ™: 1st PMF Bancorp, a leading private US commercial bank lender, specializing in providing working capital for small to mid size businesses in the US and China. With head offices in Los Angeles and branches throughout China, PMF has been a direct lender since 1985 with specialty in trade financing. PMF Bancorp’s unique “Supply Chain Trade Finance Program” provides specialized financing, and infrastructure support for businesses growing with international financing requirements. PMF Bancorp also provides a host of credit management services to reduce a company's risk of selling domestically and internationally.

ABOUT CHINAMART® USA : The ChinaMart® USA with its flagship 300,000 sq ft location at Los Angeles International Airport (LAX), is the only international business platform in the United States of its kind to specialize in attracting Chinese investment to the US with a unique One-Stop Service Program. ChinaMart’s One-Stop Services integrates Chinese company’s US branch and immigration setup, warehousing, logistics, personnel, and marketing strategies into one package. ChinaMart is a trade platform assisting with imports as well as US exports to China. For more on our programs, please visit our website.

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Cynthia Liu, US-China Liason
PMF Bancorp
+1 (310) 858-6696 203
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Christina Ku, VP of Operations
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