Home / Top News Tools: Save | Print | E-mail | Most Read | Comment
CDB Loans to Xinjiang Total 64 Bln Yuan
Adjust font size:

Over the past six years, China Development Bank (CDB) has issued loans to northwest China's Xinjiang Uygur Autonomous Region totaling 64.3 billion yuan (US$8.3 billion).

Zheng Xudong, head of the CDB Xinjiang Branch, said on Sunday its loans are propping up close to "20 key sectors", including water control, highway construction, small and medium-sized enterprises, mining resources, as well as helping harness major local rivers.

In 2006 alone, CDB earmarked 115 million yuan (US$14.8 million) of loans to aid Xinjiang in coping with a slew of emergencies, such as bird flu, earthquakes and food safety.

The bank further gave the region its first foreign currency loan, worth US$178 million, to develop cooperation and exchanges between local firms and overseas companies.

Zheng revealed that CDB's loans for capital projects in Xinjiang over the past six years account for around 70 percent of all lending for the region. He added that far from reducing its involvement, the CDB would increase its investment in Xinjiang in the future to help continue all-round development.

(Xinhua News Agency February 12, 2007)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- China Mulls Reform on Policy Financial Institutions
- CDB to Support Western Areas with Loans of 15 Bln Yuan
- Policy Lenders to Go Commercial
- Bank Pledges Its Support to SMEs
Most Viewed >>
- Shanghai fuel oil futures jump 3.14%
- Fuel shortage as crude oil prices rocket
- CNOOC's 2 oil and gas fields start production in Bohai Bay
- More oil futures products needed
- Promoting civil servants
- New endeavor to build a harmonious world
- Chinese Oil Refining Business Under Pressure
- Will Raising Processed Oil Prices Push Up the CPI?
- Fuel oil futures trading robust
- Scientists seek keys to urban development

Product Directory
China Search
Country Search
Hot Buys