A US bank is reporting a significant increase in export letter of credit (L/C) business as local exporters write more and more business with China.

Cleveland-based regional bank, National City, now says the impact of burgeoning Sino-US trading links is prompting it to expand its range of banking services.

Trading necessity

Trade specialist at National City, Alfred Ho, recently told USA Today that three-quarters of the bank's business customers inquire about doing business with China.

"It's not a question of whether or not they should do business in China, it's almost a matter of necessity," Ho reportedly told the US daily.

More L/Cs

The report also quotes Ho as saying that over the last five years National City has recorded a 210 per cent increase in the value of L/Cs it provides for deals with China.

National City has also announced a China consulting service for potential exporters that provides China-based experts in supply-chain management, labour and brand management.

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