Ernst & Young: Chinese banks issue loans of over USD200 bln to Belt & Road projects

Chinese-funded banking institutions have participated in nearly 2,700 Belt and Road projects in the past three years, with a total credit line of around 400 billion U.S. dollars and loans of over 200 billion U.S. dollars, according to a report recently released by the accounting giant Ernst & Young.

At present, China has carried out various forms of financial cooperation with B&R countries and international organizations, according to Liu Ye, partner of Transaction Advisory Services of Ernst & Young.

The financial institutions at home and abroad are actively establishing new financing models, and through a variety of financial instruments, rationally guiding credit supply to meet the funding needs of B&R countries, he added.

Up to June 2018, the trade volume of goods between China and countries along the B&R routes totaled more than 5 trillion U.S. dollars, and the total investment in overseas economic and trade cooperation zones built in B&R countries was 28.9 billion U.S. dollars. These cooperation zones have created 244,000 jobs and paid more than 2 billion U.S. dollars of tax to the local areas, according to the report. (Edited by Li Wenxin, liwenxin@xinhua.org)

Editor: 曹家宁
Today’s Recommendations

China's head-of-state diplomacy breaks new ground

The Chinese president has called on countries around the world to make concerted efforts and jointly shape the future of humanity.【detailed】

New Silk Road helps wealth bloom in desert

The dramatic transformation of the land port of Horgos, Ili Kazak autonomous prefecture, which has grown out of the Gobi Desert in only five years, is one of the great success stories of the BRI.【detailed】