China Development Bank (CDB) said on Thursday it has agreed to provide China’s transport ministry with at least 2 trillion Yuan ($290.38 billion) (£232 billion) of financing support to aid the building of roads, bridges and tourism infrastructure through to 2020.
The CDB signed a cooperation agreement with China’s Ministry of Transport for the investment, which will also support the building of transport infrastructure overseas, according to a statement on the bank’s website.
The CDB pledge indicates that a government infrastructure spending spree that started last year is likely to continue. That would provide a potential boost for China’s economy which has started off strong in 2017, supported by higher bank lending and a stronger-than-expected expansion in fixed asset investment.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.