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CDB Provides a Total Financing Volume of 550 Billion RMB to Support Beijing-Tianjin-Hebei’s Coordinated Development

Time:2020-06-04  Source:CDB

CDB recently issued policies in accordance with the requirements of the CPC Central Committee and the State Council on supporting the coordinated development of the Beijing-Tianjin-Hebei Region (“the Region”), the planned construction of the Xiong’an New Area, and the coordinated advancement of COVID-19 epidemic prevention and control, as well as economic and social development. The policies focus on the priority task of transferring Beijing’s non-essential capital city functions, as well as coordinating major tasks such as Xiong’an’s development, Beijing’s urban sub-center construction and site-building for the 2022 Winter Olympics. In addition, the policies will fully support the role of development finance in counter-cyclical adjustment, and will continue to increase financial support for the coordinated development of the Region. In 2020, CDB will grant loans of 520 billion RMB in total (local and foreign currencies combined) and provide an aggregate financing volume of 550 billion RMB in the Region, aiming to make the Region’s coordinated development a model example of high-quality development in a new area.

This year, in accordance with the Framework Plan for Beijing-Tianjin-Hebei Coordinated Development, CDB will provide efficient financing services to support major tasks such as the high-quality development of the Xiong’an New Area, the high-standard construction of Beijing’s urban sub-centers, the ecological development and Winter Olympics preparations of Zhangjiakou, as well as the high-quality construction of the Binhai New Area of Tianjin. CDB will also support construction in the major areas of transportation, environmental protection and industrial upgrading, guide the financing activities of the financial sector and social capital, explore new financing options, integrate resources and manage risks, so as to contribute to the achievement of the mid-term coordinated development goals.

CDB will support epidemic prevention and control within the Region, as well as the resumption of work and production while achieving production targets. CDB will fully support the relending of PBOC’s special loans by advancing the loaning progress across the Region and providing differentiated policies for epidemic-stricken major projects to aid the recovery of the real economy.

CDB will support the Region’s transportation integration, and will enhance financial support for major projects aimed at building a modern transportation integration network, as well as promoting the coordinated development of the Beijing-Tianjin-Hebei airport group and the Tianjin-Hebei harbor group. CDB will support the construction of an intercity-and-suburban railway network, efficient transfers between trunk routes, intercity railways and urban railways, and connections between harbors, airports and intercity railways.

CDB will support green industries and ecological protection within the Region. CDB will give priority to supporting major green projects such as building the Beijing-Tianjin-Hebei Greater Ecological Corridor, the green belt around the capital city, the Beijing-Tianjin-Baoding Ecological Transition Zone, and national forest reserves. CDB will support the construction and transformation of the Region’s sewage treatment plants, sewer pipelines, and waste treatment plants, as well as the development of the power industry and energy-efficient, environmentally friendly enterprises, to improve the Region’s environmental carrying capacity.

CDB will support industrial transformation and upgrading within the Region. CDB will connect with the country’s Major Science and Technology Innovation 2030 Projects and other key research and development plans, and support key technologies in areas such as 5G, semiconductors, new energy, Internet of Vehicles, and blockchain. CDB will focus on supporting the development of high-end industries to foster new growth drivers.

CDB will support major infrastructure construction within the Region, as well as the improvement and upgrading of urbanization. CDB will give priority to supporting “urban renewals” and the upgrading of existing housing stock, actively facilitating key areas such as urban infrastructure construction of underground utility tunnels, major hydraulic engineering, modern urban agriculture, efficient agriculture with distinctive features, rural revitalization demonstration, and the Beijing-Tianjin-Hebei agriproduct circulation system, so as to promote a high-quality development system for urban-rural integration.

CDB will support the Region’s battle against poverty. CDB will actively help poor counties work to remove themselves from the poverty list and will address overall regional poverty. CDB will contribute to releasing comprehensive policies on the relocation of poor families, the renovation of dilapidated rural houses, and the management of “hollow villages.” CDB will support the construction of infrastructure such as transportation, water conservancy, power grids, and communications in impoverished areas, and continue to increase the amount of relent loans granted to poor counties, as well as making better use of CDB’s special loan facilities for the private sector. CDB will support poverty alleviation by driving improvements in the areas of industrial development, employment, science and technology, education, and health. CDB will strengthen cooperation in poverty alleviation and guide central enterprises, as well as enterprises in Beijing and Tianjin, to invest and start doing business in Hebei Province.

CDB will support the Region in jointly contributing to the Belt and Road Initiative. CDB will focus on high-level opening-up of its services, increasing its efforts in international business development, and supporting international production capacity cooperation and the construction of the Tianjin Pilot Free Trade Zone. CDB will also support the Port of Tianjin in serving as an international hub in the joint construction of the Belt and Road.

In order to strengthen the role of development finance in promoting the in-depth development of the Region, CDB will further improve its working mechanisms, provide differentiated policies, adhere to laws and regulations, and strictly control financial risks, thus safeguarding the implementation of relevant major projects.