Bank aids Hainan FTP

This aerial photo taken on April 4, 2023 shows the Haikou International Duty-Free Shopping Complex in Haikou, south China's Hainan Province. (Xinhua/Yang Guanyu)

BEIJING, April 15 (Xinhua) -- China Development Bank (CDB), one of the country's policy banks, has issued over 90 billion yuan (about 13.12 billion U.S. dollars) of loans in support of the construction of Hainan free trade port (FTP) in the past five years.

The loans mainly went toward infrastructure, construction of modern industrial systems, and low-carbon industries, said the CDB.

The CDB has issued a guideline this year to support the Hainan FTP, pledging to provide comprehensive financial services and support the development of key industries.

It said that key industries include high-tech, tropical high-efficiency agriculture, tourism, and modern services.

Founded in 1994, the CDB is designed to provide finance to major national projects and development strategies.