Caixin reports that China’s three biggest state-owned banks provided a total of $225.4 billion (1.56 trillion yuan) in credits by the end of 2016 for projects in countries participating in President Xi Jinping’s One Belt, One Road initiative. In addition, the country’s two policy banks, China Development Bank (CDB) and the Export-Import Bank of China, have extended $200 billion in loans to projects in the plan. ICBC committed $67.4 billion in loans to support 212 Belt and Road projects by the end 2016, according to ICBC Vice President Zhang Hongli. BOC provided $67.4 billion in credits, and CCB, $90 billion, bank officials said. As part of the initiative, Chinese companies in 2016 signed $126 billion in contracts for construction projects and made $14.5 billion in direct investments in countries along the new Silk Road routes, according to the CBA’s Pan.
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