Caixin
Jun 29, 2022 09:12 PM
ECONOMY

Four Things to Know About Chinese Policy Banks’ Extra $120 Billion for Infrastructure

An under construction bridge in Zhongshan, Guangdong province, on June 25. Photo: VCG
An under construction bridge in Zhongshan, Guangdong province, on June 25. Photo: VCG

As downward pressure on China’s economy intensifies, the government is enlisting policy banks into an infrastructure investment drive that it hopes will buoy growth.

An 800 billion yuan ($120 billion) increase in policy banks’ lending quota to support infrastructure investment was announced at the June 1 executive meeting of the State Council, China’s cabinet. The meeting, chaired by Premier Li Keqiang, also urged officials to speed up the implementation of a stimulus package announced previously.

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