Recently, China Development Bank (CDB), after efficiently releasing the first portion of its infrastructure investment fund up to 210 billion yuan, has been working hard against the clock, with target focused and schedule tightened, to step up the extension of the expanded quota of development-oriented financial instruments. By September 20th, CDB’s infrastructure investment fund has invested 360 billion yuan of capital fund to support more than 800 projects, of which 150 billion yuan of expanded quota as announced at the executive meeting of the State Council on August 24 has been invested to support 421 projects.
In accordance with the instructions of the State Council, CDB expanded the quota of its infrastructure investment fund in light of actual local needs, giving priority to key infrastructure projects which are in the scope of the 14th Five-Year Plan, have preliminary work done and can be started as soon as possible in the third quarter, being inclined to major provincial economies, and further expanding the areas of support. The bank fully backed up the working group of the State Council for supervising and supporting the stabilization of the macro economy to promote the implementation of policies and ensure the sooner investment of the fund for achieving earlier results, so as to make substantial progress as soon as possible.
The intercity railway from Fangcun District to Baiyun International Airport in Guangzhou is one of the 13 intercity railway projects stated in the Railway (Intercity) Construction Plan of Guangdong-Hong Kong-Macao Greater Bay Area, and one of the 10 key railway lines in Guangzhou metropolitan area. Upon completion, it is expected to enhance the function of Guangzhou city as a comprehensive transport hub, promoting the high-quality and coordinated development of “metro+intercity railway”, and facilitating the building of a “pole-driven, axle-supported” network space pattern which connects Guangzhou, Foshan, Zhongshan, Zhuhai and other cities in the Greater Bay Area through intra-station transfers, so as to promote the integrated development of cities in the region. Recently, CDB has contributed 1.985 billion yuan from its infrastructure investment fund to support the construction of the key project.
Datengxia Gorge Irrigation District Project, a supporting project of Datengxia Gorge Water Conservancy Complex, is one of the 150 major water conservancy projects implemented under the arrangements of the State Council, and also one of the 6 priority irrigation districts designated at the executive meeting of the State Council to be started in this year. The construction of the project is of great significance for improving agricultural irrigation conditions in the arid areas of Guigang and Laibin in Guangxi Province, ensuring the safety of rural drinking water supply, consolidating and expanding the achievements of poverty alleviation, safeguarding national food security and promoting local economic and social development. Recently, CDB has invested 800 million yuan out of its infrastructure investment fund, and CDB Guangxi Branch has granted a loan of 200 million yuan, to support the construction of irrigation district project through both investment and loan. The 1 billion yuan in place has provided a strong financial guarantee for the project to commence construction.
In the next step, CDB will continue to earnestly implement the decisions and instructions of the CPC Central Committee and the State Council, doing a solid job in fund operation and post-investment management, leading and encouraging the participation of all parties, and facilitating the substantial progress as soon as possible, so as to make new contributions to strengthening infrastructure construction in an all-round way.
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