China's policy bank lends 551.8 bln yuan to manufacturing, emerging industries in 2023

0 Comment(s)Print E-mail Xinhua, February 12, 2024
Adjust font size:

BEIJING, Feb. 12 (Xinhua) -- The China Development Bank (CDB) issued 551.8 billion yuan (about 77.68 billion U.S. dollars) in loans last year to support the development of the country's advanced manufacturing and strategically important emerging industries.

These funds were mainly used to back the development of new-generation information technology, high-end equipment, new materials, new energy vehicles, energy conservation and environmental protection, and bio-medicine, among others, according to the policy bank.

The CDB said it had provided medium and long-term funds for the research and development of key technologies as well as basic frontier ones, and helped strengthen industrial chains with multiple financial services such as loans, investments and bonds.

The CDB also facilitated the implementation of a number of key manufacturing projects through a fund managed by one of its subsidiaries, which focuses on the sector's transition and upgrading.

By the end of 2023, the fund provided 27.3 billion yuan to finance 76 projects, covering industrial chains of sectors such as basic software, electronic materials, industrial internet and smart grid, said the CDB. Enditem

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from