CDB to offer financing support to Taiwan businesses

BEIJING -- China Development Bank (CDB) will offer 60 billion yuan (8.7 billion US dollars) worth of financing support over the next four years to Taiwan-funded companies in the Chinese mainland, according to an agreement signed Tuesday.

The fund will target areas including high-quality industrial development and cooperation across the Taiwan Strait, start-up and upgrading of Taiwan enterprises and cooperation of young entrepreneurs on both sides, said the agreement between the State Council Taiwan Affairs Office and the CDB.

This is the fourth such agreement between the two since 2005. The other two agreements were signed in 2012 and 2016, respectively.

The CDB had loaned a total of 185 billion yuan to Taiwan enterprises as of the end of last year.