CDB lending to China's central SOEs up 48% in 2009
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China Development Bank (CDB), one of China's three policy banks, lent 261.3 billion yuan (38 billion U.S. dollars) to country's centrally-administered state-owned enterprises (SOEs) in 2009, up 47.8 percent year on year, CDB said in a statement Tuesday.
The loans mainly went to support pillar industries, such as electric power, railways and telecommunications, of the central SOEs, according to the statement issued to Xinhua.
Some state infrastructure building projects such as the Beijing-Shanghai high-speed railway and the South-North Water Diversion Project were key recipients of financial support.
New energies and a low carbon economy were also fields in which CDB rendered its support, with total outstanding loans reaching 5 billion yuan, the statement said.
Last year, the CDB lent a total of 25.7 billion U.S. dollars to central SOEs for their overseas assets acquisitions.
