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Chinese banks to lend 380 billion yuan to support Belt and Road cooperation
May 14, 2017 / 2:32 AM / 6 months ago

Chinese banks to lend 380 billion yuan to support Belt and Road cooperation

BEIJING (Reuters) - Chinese President Xi Jinping on Sunday said Chinese banks will lend 380 billion yuan ($55.09 billion) to support Belt and Road cooperation, and China will also inject 100 billion yuan into a Silk Road Fund.

Chilean President Michelle Bachelet (behind L) and Chinese President Xi Jinping (behind R) attend a signing ceremony ahead of the Belt and Road Forum in Beijing, China May 13, 2017. REUTERS/Jason Lee

China encourages financial institutions to expand their overseas yuan fund businesses, and the overall scale is expected to reach 300 billion yuan, Xi said.

Reporting by Ryan Woo; Editing by Robert Birsel

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