BEIJING, July 21 (Xinhua) -- China Development Bank (CDB), one of the major policy banks of China, issued 277.7 billion yuan of loans in the first half of 2020 to support the transformation and upgrading of the country's manufacturing sector.
By the end of June, CDB's outstanding loans to the industry stood at about 864.8 billion yuan.
CDB has taken the high-quality development of the manufacturing industry as one of its key tasks since the start of this year. It has set up special loans of 250 billion yuan for the industry, and formulated a plan for the issuance of 50 billion yuan of loans to provide efficient and low-cost financial support for leading manufacturers in the industrial chain as well as critical small and medium-sized enterprises in the supply chain.
Founded in 1994, CDB is designed to provide finance to major national projects and development strategies. It has become the world's largest development finance institution, and the largest Chinese bank for foreign investment, long-term lending and bond issuance. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)
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