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CDB: active development finance support for the coordinated development of Beijing-Tianjin-Hebei region

Time:2023-02-16  Source:CDB

Beijing, Tianjin and Hebei, lying next to each other, are closely related and mutually dependent, just like the petals of a flower blooming on the same receptacle. In 2022, CDB implemented the decisions and instructions of the CPC Central Committee and the State Council, provided greater financial support to major regional strategy of coordinated development of the Beijing-Tianjin-Hebei region and the planning and construction of Xiong’an New Area. It took the great chance in relieving Beijing of functions non-essential to its role as China’s capital, and focus on construction of priority areas like infrastructure to support the coordinated development of Beijing-Tianjin-Hebei region with effective and efficient services in an orderly way and facilitate Xiong’an New Area to take on a new look.

In the early spring with temperatures fluctuating between warm and cold, we could hear the sound of bundling up steel bars and steel strands… on the busy construction site of the critical control project for the first section of Tianjin downtown-Jinghai Intercity (suburb) Railway, Duliujian River Bridge. This is the first intercity (suburban) railway in Tianjian, running about 13.4 km in total, and it is expected to be open for test run in 2024. CDB Tianjin Branch actively brought into play the role of offering financing and consultancy services and providing institutional support, helped the government to release relevant supporting policies, enabled a syndicated loan of 3.6 billion yuan, and developed market-based compliant and innovative solutions to financing difficulties. Upon completion, the railway will greatly reduce the commuting time between Tianjin downtown and Jianghai or Qingxi, and promote balanced development of the outskirt areas, which will relieve the pressure of the urban core. In addition, it will also connect Tianjin-Xiong’an Railway and Tianjin-Cangzhou Railway, which will help speed up the flow of people, logistics, and information, facilitating the development of Beijing-Tianjin-Hebei region on the railway” and a modern capital metropolitan area.

Walking into Nangang Industrial Zone in Tianjin Economic-Technological Development Area, you can hear roaring machines, see electric sparks from welding apparatuses, and feel the heat from workers sweating over the project at full speed. As a key project of the “14th Five-Year Plan” and the leading project of the new material clusters in Nangang Industrial Park, Nangang Ethylene and Downstream High-end New Material Industry Cluster is expected to complete and put into production this year. CDB granted a loan of 6.2 billion yuan in 2022 to support its construction. Driven by the ethylene unit with a capacity of 1.3 million tons per year, the project is equipped with high-level production facilities and is of great significance to promote the upgrading of the petrochemical industrial structure.

Beijing Daxing International Airport is an important traffic hub in Beijing-Tianjin-Hebei region. It is also an air portal to Xiong’an New Area. Beijing Daxing International Airport Economic Zone, located in Daxing District of Beijing and the adjacent area in Langfang City in Hebei Province, is the only zone enjoying the policies for pilot free trade zones of both Beijing and Hebei. It is also the only zone covering the comprehensive bonded zones both in Beijing and Hebei. Of the 150 square kilometers of area planned for the Airport Economic Zone, 100 square kilometers are in Hebei. In 2022, CDB Hebei Branch granted a loan of 1.85 billion yuan to support the industry-city integration project of Beijing Daxing International Airport Economic Zone (Langfang Area), promoting the accelerated development of air transportation, high-end manufacturing, and modern services in the region, helping relieve Beijing of functions non-essential to its role as China’s capital and boost the development of the Beijing-Tianjin-Hebei world-class city agglomeration.

If you visit Xiong’an in spring, you’ll see the new area unfolding its beauty just as a beautiful picture scroll slowly unfolding in front of you. The construction of Xiong’an New Area is a national project of millennial significance. CDB formulated a special policy to support the high-quality development of Xiong’an New Area, with a focus on major infrastructure construction. It mainly supported important transportation infrastructure construction projects such as Rongcheng-Wuhai Expressway, Beijing-Dezhou Expressway and the Airport Express from Xiong’an New Area to Beijing Daxing International Airport (Line R1). Besides, it also supported major urban infrastructure construction projects including the landscaping and forestation in the new area and the east-west axis, helping Xiong’an to develop into a lively sample for high-quality development.

It is important to reinforce the industrial chains and consolidate the foundation for real economy. CDB Beijing Branch has been increasing its support for sci-tech innovation and high-quality development of the manufacturing industry in Beijing for the past few years. In August 2022, CDB Beijing Branch, together with Beijing Municipal Bureau of Economy and Information Technology, launched a special cooperative financial product “credit loan with interest subsidy” for “reinforcing industrial chains and consolidating the foundation of real economy in the capital”. Centering on the targets and missions to reinforce the industrial chains and consolidate the foundation of real economy, focusing on the key fields, enterprises and projects, the branch provided medium-to-long-term loans, R&D loans, working capital loans, investment-loan linked services and other customized financial products and services. It joined efforts with Beijing Municipal Bureau of Economy and Information Technology to improve the stability of the industrial chains and supply chains and enhance the international competitiveness of the capital, supporting the building of Beijing International Center for Science and Technology Innovation and the coordinated development of Beijing-Tianjin-Hebei region.

According to sources from CDB, in the next step, the bank will thoroughly carry out the important requirements put forward in the 20th National Congress of the CPC and the Central Economic Working Conference on thoroughly implementing major regional strategies. It will provide sustained support for coordinated development of Beijing-Tianjin-Hebei region and major infrastructure construction projects in Xiong’an New Area. It will further improve all kinds of policies and provide targeted financial services, to substantially improve the quality and efficiency of the coordinated development of Beijing-Tianjin-Hebei region.