Beijing approves policy banks' Rmb15b bond plan

China Development Bank and Agricultural Development Bank of China to raise Rmb15 billion from offshore renminbi bond markets to fund domestic infrastructure projects.

Beijing approves policy banks' Rmb15b bond plan

Beijing has approved plans by two policy banks to raise a total of Rmb15 billion from offshore renminbi bond market in an effort to revive economic growth by financing public works projects.

China Development Bank, the biggest of the country's three policy lenders by assets, will raise Rmb5 billion in renminbi-denominated bonds in Taiwan, the National Development and Reform Commission, the state economic planner, said in a statement on Tuesday.

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