Thursday, March 4, 2021

Sputnik — China Development Bank Backs $62bn Loan Scheme For Mainland Chipmakers Amid US-China Trade Tensions

China Development Bank (CBD) has pledged financing for key emerging technologies in China via a 400bn yuan ($62bn) loan scheme, the South China Morning Post (SCMP) and others reported on Thursday.

China's State Council pledged $1.4tn in May last year to decouple from US emerging technologies and develop domestic artificial intelligence, green tech, energy infrastructure, 5G, transport and numerous other projects.

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