Xi: China will scale up financing support for the Belt and Road Initiative

According to President Xi, China will scale up financing support for the Belt and Road Initiative by contributing an additional RMB 100 billion to the Silk Road Fund, and we encourage financial institutions to conduct RMB fund business with an estimated amount of about RMB 300 billion. 

Photo shows the stone monument in front of the headquarters building of the Asian Infrastructure Investment Bank (AIIB) in downtown Beijing, capital of China. [File photo: Xinhua]

The China Development Bank and the Export-Import Bank of China will set up special landing schemes respectively worth RMB 250 billion equivalent and RMB 130 billion equivalent to support Belt and Road cooperation on infrastructure, industrial capacity and financing, Xi said.

China will also work with the AIIB, the BRICS New Development Bank, the World Bank and other multilateral development institutions to support Belt and Road related projects, Xi said.