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CCB to Put 140 Billion Yuan in Infrastructure
The China Construction Bank (CCB) announced Monday that it plans to grant loans of 140 billion Yuan (about US$18 billion) this year to support infrastructure construction.
The figure accounts for some three quarters of the bank's corporate loans for the year, a spokesman for the CCB said.
The spokesman said that the bank will make efforts to restructure its existing loans, and continue to give priority to telecommunications, urban infrastructure, highways, railways, power, oil, petrochemicals and other fields, and gradually rationalize the distribution of existing credit resources in industries, districts, clients and credit species.
For key infrastructure projects, the bank will provide credit support and comprehensive financial services including on-line banking, clearing networks, financial consultation and project financing.
Incomplete statistics show that by the end of 2000, the bank's outstanding loans in transportation, posts and telecommunications, energy and other infrastructure fields exceeded 457 billion yuan, accounting for 45.5 percent of its total corporate loans.
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