ChinaUS EUROPEASIA 中文双语Français
Business\Markets

China Development Bank to loan billions in Xiongan New Area

Xinhua | Updated: 2017-04-28 09:51

BEIJING — China Development Bank (CDB), a State-owned policy bank, said on Thursday that it will provide loans of 130 billion yuan ($18.9 billion) to support the development of Xiongan New Area.

The loan will be used in building traffic networks, infrastructure and ecological improvement in Xiongan New Area in Hebei province, said the bank.

By the end of March, the CDB had loaned more than 800 billion yuan to support the development of Hebei province.

The plan for the Xiongan New Area was officially announced on April 1. The new area, some 100 kilometers south of Beijing, will eventually cover 2,000 square kilometers, with a population of 2 to 2.5 million. It is expected to help shift out Beijing's non-capital functions.

It is designed to be a green, livable and modern urban area, a region led by innovation-driven development, a demonstration area of balanced development, and a pioneering region of open development.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US