A truck carrying containers is seen at the container dock of Shanghai's Yangshan Port in east China, April 27, 2022. (Xinhua/Chen Jianli)
BEIJING, Sept. 5 (Xinhua) -- The Export-Import Bank of China (China Exim Bank) was approved to set up a fund company to support infrastructure construction on Friday, reported Shanghai Securities News on Monday.
The fund company extended the first batch of funds on the same day of its approval, to Shanghai International Port (Group) Co., Ltd. and Zhejiang Provincial Seaport Investment & Operation Group Co., Ltd. to support the building of port and supporting facilities for the construction of Shanghai's international shipping center.
The establishment of China Exim Bank's fund company echoes China's latest supporting policy, which says the quota of "policy-backed and development-oriented financial instruments" would be expanded by another 300 billion yuan (about 43.6 billion U.S. dollars) to better fund major infrastructure projects.
China Exim Bank will channel more effective investment into the infrastructure sector by issuing more loans and giving full play to the policy-backed and development-oriented financial instruments, said Zhang Wencai, Vice President of the bank.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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