The Industrial and Commercial Bank of China (ICBC), the country's largest commercial bank, increased its loans to fixed asset investment projects in 1999.

A bank spokesman said the ICBC loaned a total of 110 billion yuan in 1999 to fixed asset investment projects, including 57 billion yuan to road, power, telecommunications and other infrastructure projects, and 53 billion yuan to those for technical upgrading.

The spokesman said a large proportion of the bank's loans went to technical upgrading projects in key industries and key enterprises, as well as works involving the production of key industrial equipment.

The bank also extended its support to the industrialization of high technologies. For example, its loans to several mobile phone developers in Beijing, Shenzhen and Xiamen will help China acquirethe technology for the production of key parts and thus sharpen the country's competitive edge in the international market, the spokesman said.

In the sector of infrastructure, the bank has since 1998 provided 40 billion yuan in loans to 65 highway projects involvinga total mileage of 4,500 kilometers.

According the spokesman, the bank will increase its loans for the improvement of old industrial bases and the development of thewestern regions in 2000.

It will also increase loans in both RMB and foreign currencies to non-state-owned enterprises and foreign-funded enterprises, as well as loans to non-production and non-circulating projects, the spokesman said.