Published: 16:11, April 7, 2021 | Updated: 20:09, June 4, 2023
China Development Bank eyes 300b yuan loans for innovation
By Xinhua

In this Jan 9, 2017 photo, the logo of the China Development Bank is seen at a building in Beijing, China. (PHOTO / VCG)

BEIJING - The China Development Bank, one of the country's policy banks, has pledged to beef up its financial support for scientific and technological innovation during the 14th Five-Year Plan period (2021-2025).

A total of 300 billion yuan (about US$45.88 billion) under a special loan program for innovation and research will be arranged for the next five years, the bank said, adding that loans worth 50 billion yuan will be offered this year.

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The special loan program will be mainly used for supporting fundamental research and original innovation to facilitate the implementation of strategic projects on science and technology, the bank noted.