Since the beginning of 2023, China Development Bank (CDB) has conscientiously implemented the decisions and instructions of the CPC Central Committee and the State Council and brought into play its advantages in medium- and long-term investment and financing to producing effects early on. It improved the credit structure to enable the economy to achieve effective qualitative improvement and reasonable quantitative growth. In January, it granted medium- and long-term loans of over 210 billion yuan mainly in priority areas such as infrastructure, advanced manufacturing and strategic emerging industries, rural revitalization, regional coordinated development, and green industry, seeing a good start.
Currently, with the construction of major infrastructure projects being promoted across China, there is considerable demand for funds. In keeping with its development finance mandate, CDB focuses on national strategic plans and major projects, taking the initiative to offer medium- and long-term credit support, promote CDB Infrastructure Investment Fund to speed up compliance payment of funds and offer supporting financing services, and enable major projects to see substantial progress as soon as possible. In January this year, CDB issued 137.8 billion yuan of medium- and long-term infrastructure loans, accounting for over 65% of its total, helping stabilize investment and expand domestic demand effectively.
In Xi’an, Shaanxi Province, the construction of Xi’an Metro Line 8 under the financing support of CDB Shaanxi Branch went on even during the Spring Festival for the completion of the shield tunneling of the right line from Qujiangchi West Station to Hanyao Station. By now, the main bodies of 25 of the 37 stations on the entire line have been roofed. After the completion of Line 8, a fast passenger transfer corridor between the second and third ring roads in the main city will be built for alleviating urban traffic pressure and promoting urban development.
In Xiamen, Fujian Province, the construction of Xiamen Xiang’an International Airport, which has been listed as a major project in the “14th Five-Year Plan” of the country, is in process. CDB Xiamen Branch has sped up the payment of funds from CDB Infrastructure Investment Fund to guarantee project construction with full efforts. Since the beginning of the new year, workers of all types have been bustling at the construction site of the airport. With long-armed tower cranes and various types of construction machinery working side by side, it’s like a wonderful symphony of “Prelude to Spring”. Even during the Spring Festival, there were over a thousand workers who stuck to their posts and spared no effort to ensure the steady proceeding of construction as planned.
In Yibin, Sichuan Province, the first phase of the International Higher Vocational Education Park, which received investment and loan from CDB Sichuan Branch, is gathering pace in construction. The planned area of the project is 20 square kilometers, with a planned permanent population of 190,000 and 100,000 vocational school students. It is expected to introduce high-quality domestic and overseas vocational education resources in electronic information, equipment manufacturing, new energy vehicles, health care, arts and sports, etc., to establish schools and to cooperate in educational projects, with a view to boosting the high-quality growth of vocational education in Sichuan and even in southwest China.
Next, CDB will get aligned with the decisions and instructions of the CPC Central Committee, implement the national macro-control policies, and maintain stable credit growth. It will strengthen financial services, improve the differentiated policy system, and increase financing support for major projects in line with the national development plans. It will further focus on its development finance mandate, improve its business structure, and balance the total amount, structure, and rhythm of credit delivery in a dynamic way so as to contribute to a good start of building a modern socialist country in all respects.
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