Policy Banks Linked to 'Belt and Road' Plans Said to Get US$ 31 Bln

(Beijing) – The central bank has bolstered the capital of two policy banks linked to the government's "belt and road" initiatives, investing a combined US$ 31 billion, people with knowledge of the matter say.

The regulator recently converted US$ 16 billion worth of foreign exchange loans to China Development Bank (CDB) into equity shares in the bank, the sources said. It did the same with US$ 15 billion worth of forex loans to Export-Import Bank of China.