China Development Bank increases loans for science and technological innovation

Xinhua  2023:01:21.15:54

BEIJING, Jan. 21 (Xinhua) — The China Development Bank, one of the country’s policy banks, has provided a total of 261.9 billion yuan (about 38.68 billion U.S. dollars) in loans to support science and technology innovation of the country in 2022.

More than 90 percent of the loans were medium- and long-term, according to the bank.

The money went mainly to sectors such as integrated circuits, biological reproduction, aerospace science and technology, and intelligent robots.

(Web editor: Wu Sixuan, Zhao Jian)