China Construction Bank increases loan support for manufacturing

Welding robots work on the production line at a welding workshop of sedan manufacturer FAW-Hongqi in Changchun, northeast China's Jilin Province, Oct. 17, 2022. (Xinhua/Yan Linyun)

BEIJING, July 22 (Xinhua) -- China Construction Bank, one of the country's largest state-owned commercial banks, has enhanced financial support for the manufacturing sector.

According to the bank, by the end of June, its outstanding loans to the manufacturing sector exceeded 2.7 trillion yuan (about 377.85 billion U.S. dollars), expanding 21.4 percent compared with the same period last year.

The bank's outstanding medium and long-term loans to the manufacturing sector exceeded 1.36 trillion yuan at the end of June, rising 36.23 percent year on year.

To meet the financial needs of advanced manufacturing, strategic emerging industries and high-tech industries, the bank's outstanding loans to specialized and innovative firms increased 35 percent year on year to over 250 billion yuan during the period.

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