Date
20 October 2017

China Development Bank boosts urbanization loans, paper says

China Development Bank will allocate 60 percent of its loan quota to the government’s urbanization program starting this year, Shanghai Securities News reported Tuesday, citing president Hu Huaibang. As of the end of 2013, the bank had lent a cumulative 7 trillion yuan (US$1.15 trillion) for urbanization projects, about 62 percent of all renminbi loans it offered. In 2013 alone, it offered 1.03 trillion yuan of such credit, accounting for 68 percent of its renminbi loans, the report said.

– Contact HKEJ at [email protected]

EL/MY/RA

 

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