China Development Bank expands funding for science and technology innovation

One of the country’s policy banks, the China Development Bank, granted 261.9 billion Yuan (approximately 38.68 billion US dollars) in loans to assist the country’s scientific and technological innovation in 2022. According to the bank, more than 90% of the loans were medium and long-term. The loans were given to industries such as integrated circuits, biological breeding, aerospace science and technology, and intelligent robotics.

 

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