China Development Bank ups loan support for energy sector in H1

This aerial photo taken on Jan. 5, 2023 shows the construction site of a photovoltaic (PV) power project in North China's Tianjin. (Xinhua/Li Ran)

BEIJING, July 12 (Xinhua) -- The China Development Bank, one of the country's policy banks, stepped up financial support for the energy sector in the first half of the year to help ensure China's energy security.

The bank issued a total of 346.1 billion yuan (about 48.23 billion U.S. dollars) in loans during the period, increasing 18 percent year on year.

The loans mainly supported oil and gas pipeline network construction and photovoltaic and wind power infrastructure projects, among others.

The bank said it would support the building of a clean, low-carbon, safe and efficient modern energy system, clean energy infrastructure construction, and clean and efficient use of traditional energy in the future.