China Development Bank issues significant rail construction loans in 2023

BEIJING, Jan. 4 (Xinhua) -- China Development Bank said Thursday it had issued 105.5 billion yuan (about 14.9 billion U.S. dollars) in loans in 2023 to finance the construction of railway infrastructure.

The funds have backed the launch of about 2,300 km of new rail lines, the state-owned policy bank said in a press release.

Last year, China Development Bank prioritized key areas such as high-speed railways and intercity railways in important regions, strengthened coordination with central government departments, China State Railway Group Co., Ltd. and other key enterprises, and actively provided medium- and long-term financial support and other services, it said.

According to the bank, it will continue to provide stable financial support in the future for building a modern transport system in the country, with a focus on the construction of a high-speed railway network.