Top China Banks Start Lending Funds in $45 Billion Infrastructure Plan

What’s new: Two of China’s policy lenders set up new units to handle financing in Beijing’s latest 300 billion yuan ($45 billion) round of infrastructure spending to bolster the staggering economy.

China Development Bank (CDB), the country’s largest policy bank, issued 1.3 billion yuan of loans through a newly established infrastructure fund management company to finance a highway construction project in Shanxi and an airport project in Henan, the bank said Friday.