BEIJING, July 7 (Xinhua) -- The Agricultural Bank of China (ABC), one of the country's state-owned banks, has issued nearly 10 billion yuan of loans by the end of June to leading 5G new infrastructure enterprises such as China Mobile, China Telecom, China Unicom and China Tower to help them accelerate implementation of 5G projects, reported the Xinhua-run Shanghai Securities Journal on Monday.
The bank has also issued nearly 10 billion yuan of bonds for leading new infrastructure enterprises by the end of June, and expanded financing channels for them by actively promoting bill rediscount business.
ABC will continue to increase credit support, keep innovating products and services to satisfy the financing needs of enterprise in the new infrastructure fields, according to an executive with major client department of ABC.
China is accelerating the construction of new infrastructure such as 5G networks and data centers, in a bid to inject new impetus to the country's economy, especially in sectors like new consumption, new manufacturing and new services.
In May, ABC unveiled a plan for supporting new infrastructure construction, which made it clear that the bank would continue to strengthen its research in 5G, industrial Internet and artificial intelligence, and expand the coverage of credit policies. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)
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