China Development Bank steps up loan support for transport

This aerial photo taken on July 24, 2023 shows a road in Langdai Township, southwest China's Guizhou Province. (Xinhua/Tao Liang)

BEIJING, Oct. 1 (Xinhua) -- The China Development Bank, one of China's policy banks, has stepped up financial support for infrastructure construction and green development of the country's transport sector.

According to the bank, it has issued more than 530 billion yuan (about 73.82 billion U.S. dollars) of loans to the sector since the beginning of this year.

The loans mainly supported a batch of major transport infrastructure projects in the fields including railway, road, waterway, urban transit and charging piles for new-energy vehicles.

They were also used to promote the country's green and low-carbon transformation of transport and the development of a modern comprehensive transport system.

The bank said it will continue to increase credit support for transport infrastructure construction, and contribute to the building of a sustainable transport system that is safe, convenient, efficient, green, economical, inclusive and resilient.