China Development Bank enhances support for top-10 provincial economic heavyweights

The China Development Bank has enhanced its financial support for the country's top 10 provincial economic heavyweights.

The state-owned financial institution said on Monday that it had extended 185 billion yuan (about 25 billion U.S. dollars) in loans to projects in these 10 provinces in the first quarter of this year.

These provinces, including Guangdong, Jiangsu and Shandong, accounted for over 60 percent of China's GDP in 2024.

The total loan amount was 38 percent higher from the first quarter of 2024, and was approved to support the acceleration of major projects and the developmement of new quality productive forces in these provinces.

China Development Bank enhances support for top-10 provincial economic heavyweights

The U.S. dollar weakened in late trading on Wednesday.

The dollar index, which measures the greenback against six major peers, fell 0.32 percent to 99.648 at 1900 GMT.

In late New York trading, the euro was up to 1.1607 dollars from 1.1523 dollars in the previous session, and the British pound climbed to 1.3324 dollars from 1.3189 dollars in the previous session.

The U.S. dollar bought 158.82 Japanese yen, lower than 158.95 Japanese yen in the previous session. The U.S. dollar decreased to 0.7931 Swiss francs from 0.8008 Swiss francs, and it was down to 1.3895 Canadian dollars from 1.3937 Canadian dollars. The U.S. dollar slipped to 9.3935 Swedish kronor from 9.4895 Swedish kronor.

US dollar ticks down