CDB to offer financial support to Taiwan firms

BEIJING -- China Development Bank pledged Wednesday to offer 50 billion yuan ($7.94 billion) in credit to support Taiwan companies on the Chinese mainland during the 2012-15 period.

The CDB will offer financial help to facilitate the enterprises' upgrading and transformation, step up support for Taiwan midium and small-sized companies, and help expand cooperation between the mainland and the island in the emerging industries, science and technology, agriculture and tourism.

As of the end of June, the bank had issued over 70 billion yuan of loans to more than 870 Taiwanese projects.

On Wednesday, the bank also promised to give financial support of up to 20 billion yuan to transportation construction in Beijing to ease growing traffic pressures.