BUSINESS China Development Bank ups loan support for science, technology innovation

BUSINESS

China Development Bank ups loan support for science, technology innovation

Xinhua

13:11, January 21, 2023

A staff member introduces a minimally invasive orthopedic surgery robot to visitors at the 2022 World Artificial Intelligence Conference (WAIC) in East China's Shanghai, Sept 1, 2022. (Photo: Xinhua)

BEIJING, Jan. 21 (Xinhua) -- China Development Bank, one of the country's policy banks, issued a total of 261.9 billion yuan (about 38.68 billion U.S. dollars) of loans to support the country's science and technology innovation in 2022.

Over 90 percent of the loans were mid-term and long-term loans, the bank said.

The loans mainly went to sectors including integrated circuits, biological breeding, aerospace science and technology, and intelligent robots.

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