
China Development Bank (CDB) has boosted loan support to manufacturing companies in the first half of the year to facilitate transformation and upgrade of the sector.
In the first six months, CDB gave 277.7 billion yuan of loans (about 39.7 billion U.S. dollars) to the manufacturing industry, up 45 percent year on year.
Outstanding loans to the sector amounted to 864.8 billion yuan by the end of June, according to the CDB.
The lender said it had set up a targeted loan program of 250 billion yuan to promote quality development in the manufacturing industry and an aid fund plan measuring 50 billion yuan to offer efficient and low-cost finance to companies involved in industrial and supply chains.
Official data showed that business activities of China's manufacturing sector continued to pick up in June amid the country's efforts to mitigate the impact of the COVID-19 epidemic.
The purchasing managers' index (PMI) for China's manufacturing sector ticked up to 50.9 in June from 50.6 in May, according to data by the National Bureau of Statistics.
Fire brigade in Shanghai holds group wedding
Tourists enjoy ice sculptures in Datan Town, north China
Sunset scenery of Dayan Pagoda in Xi'an
Tourists have fun at scenic spot in Nanlong Town, NW China
Harbin attracts tourists by making best use of ice in winter
In pics: FIS Alpine Ski Women's World Cup Slalom
Black-necked cranes rest at reservoir in Lhunzhub County, Lhasa
China's FAST telescope will be available to foreign scientists in April
"She power" plays indispensable role in poverty alleviation
Top 10 world news events of People's Daily in 2020
Top 10 China news events of People's Daily in 2020
Top 10 media buzzwords of 2020
Year-ender:10 major tourism stories of 2020
No interference in Venezuelan issues
Biz prepares for trade spat
Broadcasting Continent
Australia wins Chinese CEOs as US loses