China Development Bank offers $1.84bn loan to SMEs
NEWS DIGEST – China Development Bank, CDB, one of the country’s policy banks, has provided financial support for specialised and sophisticated small and medium enterprises, SMEs, in the country.
A total of 13.1 billion yuan (1.84 billion U.S. dollars) in loans was granted in the first three quarters of 2022.
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The loan was to support high-quality development of 115 specialised and sophisticated SMEs that produce novel and unique products.
CDB has a work plan for special loans and supportive policies to comprehensively improve the level and capacity of refined financial services.
The bank has also rolled out preferential policies for specialised and sophisticated SMEs that produce novel and unique products to further lower their financing costs.
Xinhua/NAN
