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Bank aids Hainan FTP construction

Xinhua | Updated: 2023-04-15 13:34
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A China Development Bank sign is seen on the rooftop of an office building in the Lujiazui Financial District in Pudong, Shanghai. [Photo/IC]

BEIJING - China Development Bank (CDB), one of the country's policy banks, has issued over 90 billion yuan ($13.12 billion) of loans in support of the construction of Hainan free trade port (FTP) in the past five years.

The loans mainly went toward infrastructure, construction of modern industrial systems, and low-carbon industries, said the CDB.

The CDB has issued a guideline this year to support the Hainan FTP, pledging to provide comprehensive financial services and support the development of key industries.

It said that key industries include high-tech, tropical high-efficiency agriculture, tourism, and modern services.

Founded in 1994, the CDB is designed to provide finance to major national projects and development strategies.

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