A technician works on an electric transmission tower in Tajik Autonomous County of Taxkorgan, northwest China's Xinjiang Uygur Autonomous Region, Nov. 23, 2019. (Xinhua/Hu Huhu)
BEIJING, Nov. 26 (Xinhua) – Northwest China's Xinjiang Uygur Autonomous Region has extended 353.79 billion yuan of financial credits to support the construction of 648 major projects in the first three quarters of the year, according to the Wulumuqi Central Sub-branch of the People's Bank of China, the country's central bank.
Outstanding loans to Xinjiang's major projects stood at 214.36 billion yuan by the end of September of the year, up 7.4 percent on month.
In September alone, the region's weighted average interest rate was 4.5 percent, which was 0.4 percentage point lower than that of the same period last year.
As of the end of September, the loans allocated to infrastructure projects accounted for about 58.3 percent of Xinjiang's total in the same period, while about 11.9 percent and 8.6 percent of loans were granted to leasing and business services, as well as the real estate sector, respectively.
To support the regional poverty alleviation, Xinjiang allocated 7.57 billion yuan to critical projects in agriculture, forestry, animal husbandry, and fishery by the end of September, up 31.5 percent from the previous month.
(Edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com)
A single purchase
