By Gongming from People’s Daily
China will scale up financing support for the belt and Road Initiative by contributing an additional RMB 100 billion to the Silk Road Fund. Xi Jinping, President of People’s Republic of China, announce it at the opening ceremony of the Belt and Road Forum for International cooperation which starts today in Beijing.
At the same time, China will encourage financial institutions to conduct overseas RMB fund business with an estimated amount of about RMB 300 billion. The China Development Bank and the Export-Import Bank of China will set up special lending schemes respectively worth RMB 250 billion equivalent and RMB 130 billion equivalent to support Belt and Road cooperation on structure, industrial capacity and financing.
At the same time, China will encourage financial institutions to conduct overseas RMB fund business with an estimated amount of about RMB 300 billion. The China Development Bank and the Export-Import Bank of China will set up special lending schemes respectively worth RMB 250 billion equivalent and RMB 130 billion equivalent to support Belt and Road cooperation on structure, industrial capacity and financing.