China completes 800bn yuan policy financial tools deployment in two months
China has completed the deployment of 800 billion yuan in new policy financial tools, exceeding last year's 500 billion yuan. The funds were allocated by three state banks for project capital, involving total investment of 5.5 trillion yuan.
China has completed the deployment of 800 billion yuan (US$110 billion) in new policy financial tools this year, state news agency Xinhua reported on Wednesday. The amount exceeds last year's 500 billion yuan.
The China Development Bank allocated 365 billion yuan, the Export-Import Bank of China 120 billion yuan, and the Agricultural Development Bank of China 315 billion yuan, according to the report.
The National Development and Reform Commission in August accelerated the deployment of the tools, with the first batch launched in early September. All funds were deployed within two months.
The China Development Bank said all its allocations were used to supplement project capital, involving projects with a total investment of 5.5 trillion yuan.
The Export-Import Bank of China said its allocations promoted private investment and private capital participation in projects, as well as emerging industries such as the digital economy and artificial intelligence.