China Development Bank lends nearly 267b yuan for infrastructure development in Q1

BEIJING -- China Development Bank said it had issued 266.9 billion yuan ($37.61 billion) in loans during the first quarter of 2024 to bolster the advancement of infrastructure projects.

Funds were channeled to 102 key projects nationwide, encompassing the development of network-type infrastructures across transportation, energy, and water conservancy, the upgrading of infrastructure for industries such as information, technology and logistics, urban infrastructure, agricultural and rural infrastructure, and national security infrastructure, according to the CDB.

Among projects to receive such financing in Q1 were the third-phase expansion of Xi'an Xianyang International Airport, construction of the Changtai Yangtze River Bridge, and the water resources allocation project surrounding Beibu Gulf.

In the next phase, the CDB said it would focus on optimizing the allocation of financial resources and providing high-quality financial services to support high-quality economic and social development.