BEIJING, April 3 (Xinhua) – Chinese commercial bank China Development Bank (CDB) has completed granting more than 30 billion yuan of credit lines in total to Xiongan New Area, reported Xinhua-run Shanghai Securities News.
CDB allocated 8.3 billion yuan of credit lines to financing a rail artery between Beijing and Xiongan, an economic zone designed to integrate Beijing with surrounding areas, in an effort to shorten the rail trip between the two places to half an hour.
The lender also provided 2.7 billion credit lines for a 6666.67-ha nursery and landscape forest program in Xiongan to assist its ecological construction.
Apart from these, CDB has helped China Xiongan Group, a main solely state-owned operator and platform for developing and constructing the Xiongan New Area, with completion of registering issuance of 20 billion yuan of perpetual bonds. Year to date, the first batch of 600 million yuan of the perpetual bonds registered have been issued on China's interbank market.
According to CDB, Xiongan is expected to kick off full-scale construction in 2019 thus CDB will continue to play its role as a development finance provider to support Xiongan's construction in next step. (Edited by Duan Jing, email@example.com)