Briefly

CDB hikes support for sci-tech firms

China Development Bank, a major policy bank, has stepped up its medium and long-term financing support for science and technology enterprises. From January to April, CDB issued science and tech loans worth 40.6 billion yuan ($5.7 billion), among which 16.5 billion yuan went to supporting the development of integrated circuits, mechanical equipment and industrial automation, basic materials, new energy technology applications, biomedicine and other fields. Since 2021, CDB has set up special loans for scientific and technological innovation and basic research.

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