China policy bank steps up support for information infrastructure

China Development Bank, one of the country's policy banks, extended over 13.1 billion yuan (about 1.82 billion U.S. dollars) of loans to the information infrastructure and scientific and technological infrastructure sectors during the first three quarters of the year.

In the information infrastructure sector, the bank's loans mainly went to support the construction of the 5G network, fixed broadband network and industrial Internet, as well as the digital transformation of manufacturing industries.

In the scientific and technological infrastructure sector, the bank mainly provided financial support for projects regarding research facilities and technology development facilities, among others.

The bank will continue to increase support for the country's industrial upgrading, promote the integrated development of the digital economy and the real economy, and provide support for the modernization of industrial chains, it said.

China's rural policy bank ups financial support for green projects

The Agricultural Development Bank of China (ADBC), a rural policy bank, issued a total of 662.15 billion yuan (about 92.24 billion U.S. dollars) of green loans during the first nine months of the year, an increase of 121.49 billion yuan from a year ago.

By the end of September, the bank's green loan balance had reached 2.3 trillion yuan, accounting for 26.55 percent of the total loan balance, the ADBC said.

In recent years, the bank has supported a number of green projects with good environmental and social benefits.

The projects were mainly from five areas, namely, protection and restoration of important ecosystems; pollution prevention and control of major rivers, lakes and reservoirs; conservation and recycling of agricultural resources; building of livable countryside, and clean and low-carbon energy transformation.

According to the ADBC, by the end of September, it had supported a total of 10,640 green projects, which saved more than 13 million tonnes of standard coal, reduced 30 million tonnes of carbon dioxide equivalent and saved about 250 million tonnes of water. 

Chinese export insurer strengthens support for foreign trade

China Export & Credit Insurance Corporation, a state-owned policy-oriented insurance company, scaled up support for foreign trade in 2022, said a report published by the Development Research Center of the State Council.

The insurer has driven China's export value to more than 810 billion U.S. dollars directly or indirectly last year, according to the report.

The figure accounted for 22.6 percent of the country's total export value in 2022.

During the same period, it served more than 170,000 clients including more than 140,000 small and micro-sized foreign trade businesses, the report noted.

In the first three quarters of this year, the insurer handled underwriting totaling more than 680 billion dollars.