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CDB lending to central SOEs up 48% in 2009

(Xinhua)
Updated: 2010-03-03 09:11
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China Development Bank (CDB), one of China's three policy banks, lent 261.3 billion yuan ($38 billion) 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.

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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 to central SOEs for their overseas assets acquisitions.
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