China policy bank steps up support for information infrastructure

A farmer introduces 5G intelligent agricultural system in Yuhu District of Xiangtan City, central China's Hunan Province, March 23, 2023. (Xinhua/Chen Zeguo)

BEIJING, Oct. 29 (Xinhua) -- China Development Bank, one of the country's policy banks, extended over 13.1 billion yuan (about 1.82 billion U.S. dollars) of loans to the information infrastructure and scientific and technological infrastructure sectors during the first three quarters of the year.

In the information infrastructure sector, the bank's loans mainly went to support the construction of the 5G network, fixed broadband network and industrial Internet, as well as the digital transformation of manufacturing industries.

In the scientific and technological infrastructure sector, the bank mainly provided financial support for projects regarding research facilities and technology development facilities, among others.

The bank will continue to increase support for the country's industrial upgrading, promote the integrated development of the digital economy and the real economy, and provide support for the modernization of industrial chains, it said.