China's EximBank pledges $127b for emerging industries
The Export-Import Bank of China (EximBank) and the country's top economic planner signed an agreement to boost financing support to emerging industries by more than $100 billion in a bid to foster new growth drivers.
EximBank will offer at least $127 billion of financial support to strategic industries including makers of high-tech equipment and new energy vehicles between 2016 and 2020, Xinhua news agency reported.
The funds will be used for major projects and building innovation platforms, according to the agreement signed with the National Development and Reform Commission.
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