More new loans used to support real economy

BEIJING - China Development Bank (CDB), the country's policy lender, lent over 1.3 trillion yuan ($213 billion) in the first half of this year to support the real economy, the country's banking regulator said on Thursday.

The bank made loans of 420 billion yuan in the first six months to support renovation of rundown housing across the country, more than the total amount last year, according to the China Banking Regulatory Commission (CBRC).

CDB lent 67.8 billion yuan to railway development, and a total of 579 billion yuan had been lent to water projects by the end of June.

The bank has also funded government projects in urbanization and poverty alleviation, part of investment cooperation along the Belt and Road.

Set up in 1994, the CDB has been primarily responsible for raising funds for large infrastructure projects.