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China Development Bank will offer 300 billion yuan loans to support tech innovation

2021/4/8 9:29:21   source:Global Times

China Development Bank (CDB), the government's major policy lender, will issue 300 billion yuan ($45.87 billion) of loans to encourage the research and development of advanced technologies, in order to support tech innovations and enhance the country's technology level.

According to CDB, the loan will be offered during the 14th Five Year Plan (2021-25) period, with 50 billion yuan is scheduled to be released in 2021.

The loan will focus on nationally significant technology projects, infrastructure construction and important innovations.

In addition, CDB will follow the related government regulations to issue the loans after strict assessment, in order to protect financial system safety and the sustainable development of financial sector.

The CDB vowed to expand cooperation among the local governments, financial firms and enterprises during the 14th Five Year Plan (2021-25), by offering financial supports to individuals and companies that engage in the country's major research and development projects.

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