The China Development Bank (CDB), one of the country's policy banks, has significantly increased its financial support for the development of China's transport sector and its green transformation. Since the beginning of the year, the bank has issued over 530 billion yuan (approximately $73.82 billion) in loans to the sector, as reported on Sunday.
These loans have primarily been directed towards a range of major transport infrastructure projects. This includes initiatives in areas such as railways, roads, waterways, urban transit, and charging infrastructure for new-energy vehicles. The funding is not only bolstering China's transport sector but also supporting the country's shift towards greener and lower-carbon transportation.
In addition to facilitating infrastructure construction, the loans are being utilized to promote the development of a modern comprehensive transport system in China. This approach aligns with the country's ongoing efforts to transition towards a more sustainable and resilient transport system that is safe, convenient, efficient, green, economical, and inclusive.
The China Development Bank, which has a robust market cap of HKD 15.55 billion, has expressed its commitment to continue increasing credit support for transport infrastructure projects. This move is expected to contribute significantly to the creation of a sustainable transport system in China. The bank's actions underscore its strategic role in supporting key national development initiatives and policy objectives.
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