HSBC has issued loans totalling US$55.6mn for the export of American aircraft and agri-machinery to China.

Both of the loans have been guaranteed by US Exim, which estimates that the transactions will support 400 jobs across the country. It marks the 20th time US Exim has supported exports to China.

The exports package consists of 10 tractors, 70 combine harvesters, four Robinson helicopters, six tractor dusters and 20 Thrush crop dusters. The borrower is the Chinese state-owned company Beidahuang Group in Harbin, who will use the equipment on farms in the northeast of the country.