China Development Bank issues significant rail construction loans in 2023

BEIJING - China Development Bank said Thursday it had issued 105.5 billion yuan (about $14.9 billion) in loans in 2023 to finance the construction of railway infrastructure.

The funds have backed the launch of about 2,300 km of new rail lines, the State-owned policy bank said in a press release.

Last year, China Development Bank prioritized key areas such as high-speed railways and intercity railways in important regions, strengthened coordination with central government departments, China State Railway Group Co Ltd and other key enterprises, and actively provided medium- and long-term financial support and other services, it said.

According to the bank, it will continue to provide stable financial support in the future for building a modern transport system in the country, with a focus on the construction of a high-speed railway network.