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CDB Provides a Total Financing Volume of 360 Billion RMB to Support the Guangdong-Hong Kong-Macao Greater Bay Area

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Time:2020-05-25  Source:CDB

CDB recently issued policies to enhance the financial support for the Guangdong-Hong Kong-Macao Greater Bay Area (the “Area”), in accordance with the strategic plan of the CPC Central Committee and the State Council regarding the construction of the Area. In 2020, CDB will provide the Area with a total financing volume of 360 billion, which includes 290 billion RMB in loans, and a total financing volume of 110 billion RMB for scientific and technological innovations and strategic emerging industries. By doing so, CDB will help the Area to play a greater role in promoting the national prevention and control of the COVID-19 epidemic, ensuring stable economic performance and powering high-quality economic development, thus contributing to the national goal of building a moderately prosperous society in all respects.

CDB will help promote the prevention and control of the epidemic and help enterprises resume work and production. CDB will fully support the relending of PBOC’s special loans, to enhance the financial support for the key enterprises of the Area and ensure the availability of epidemic prevention and control supplies. Meanwhile, CDB will work closely with local governments to coordinate the resumption of work and production of key enterprises across the industry value chain, so as to contribute to the stability of the global value chain and supply chain.

CDB will support the construction of infrastructure connectivity, and will encourage innovation in its investment and financing options, with a view to advancing the construction of key projects in the Area’s traditional infrastructure sectors such as transportation, energy and water conservancy. CDB will also increase investment in New Infrastructure projects such as information and communication, urban rail transit, green energy, and logistics.

CDB will promote the connectivity of financial markets. It will also promote the building of a “Soft Link” mechanism, support the development of its Hong Kong branch into an international syndicate funding center and book-keeping center, and create a cross-boundary business model centering on China’s national strategies and serving key clients which are jointly building the Belt and Road and the Greater Bay Area.

CDB will support the Area in building a global platform for scientific and technological innovation and a home for emerging industries. It will also facilitate the building of comprehensive national science centers and high-level scientific innovation platforms, and will support the Area in making breakthroughs in key technologies and key parts, thus assisting with the piloting and development of the Area’s 5G industry value chain. Furthermore, CDB will promote the transformation and upgrading of traditional industries and foster advanced manufacturing.

At the same time, CDB will support the Area in improving public services and building an eco-friendly society, and will integrate local culture and tourism to create a better living and working environment that is also tourism-friendly. CDB will further encourage the Area’s enterprises to jointly run and invest in overseas businesses, support the development of Mainland enterprises in Hong Kong, facilitate the construction of the Area’s major Belt and Road projects, and systematically support the establishment of the cooperation platform between Guangdong, Hong Kong and Macao, as part of a new all-round strategy of opening up.