Off the wire
• China, U.S. focus on climate in key annual dialogue  • Top legislature starts bimonthly session  • 1st LD Writethru: Mainland's removal of entry permit not to "citizenize" Taiwanese  • China earmarks 500 mln yuan for black earth protection  • Rare sea lion joins New Zealand endangered species list  • China Hushen 300 index futures close higher Wednesday  • China treasury bond futures close lower Wednesday  • Taiwan stocks close 0.06 pct higher  • Feature: Run under midnight sun  • Roundup: S.Korean shares rise for six days on foreign purchase  
You are here: 　 Home

CITIC Group promises hefty financing support for "Belt and Road"

Xinhua, June 24, 2015 Adjust font size:

The CITIC Group on Wednesday announced a total of over 700 billion yuan (115 billion U.S. dollars) in investment and financing support for the Belt and Road initiatives.

China CITIC Bank, CITIC Securities, CITIC Trust and several others are among the companies involved. CITIC Bank alone offered over 400 billion yuan.

In addition, the lender plans a fund for the Belt and Road with an initial capital of 20 billion yuan.

The hefty financing will be spent in at least 10 countries along the Belt and Road on infrastructure, environmental protection, new energy, agriculture and education.

The Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road proposed by China in 2013 for improved cooperation with countries in Asia, Europe and Africa.

The Chinese government published an action plan specifying the principles, framework, priorities and mechanisms for the initiative in March. A 40 billion U.S. dollar Silk Road fund, designed to finance the Belt and Road, has also been launched. Endi