Chinese policy bank increases support for transport system construction

BEIJING - China Development Bank, one of the country's policy banks, has stepped up financial support for the construction of a modern transportation system.

From January to May 2023, a total of 268.7 billion yuan ($37.78 billion) in loans had been extended by the bank to build railways, roads, airports and other transport facilities.

The bank also increased financial support for the construction of charging piles and related power grid networks, among others.

The bank said it will continue to support the development of a modern transportation system, provide higher quality financial services, and fulfill its social responsibilities.