BEIJING, Dec. 20 (Xinhua) --China Development Bank Capital (CDB Capital), a subsidiary of CDB, joined hands with Guangxi Investment Group to set up funds totaling 50 billion yuan to invest in Belt and Road projects in southern China's Guangxi Zhuang Autonomous Region and ASEAN countries.
Guangxi is an important border area that connects China with ASEAN countries. As the Belt and Road Initiative has been echoed by a growing number of countries and regions, Chinese banks have stepped up support to Guangxi and ASEAN countries.
Apart from fund setup, CDB has also entered into an agreement with Guangxi on strengthening cooperation in comprehensive financial services, local financial development and overseas institutions in the coming five years. (Edited by Yang Yifan, yangyifan@xinhua.org)