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Economy

China Development Bank commits $250bn to Belt and Road

China's investments to the trade plan are estimated at $150bn over next five years

HONG KONG -- China may have become more cautious on its mounting corporate debts, but it has no intention of slowing its investments in the Belt and Road Initiative, with the country's biggest foreign investment bank committing $250 billion in loans to the trade plan -- an amount larger than the annual gross domestic product of Greece or Finland in 2016.

On Monday, Hu Huaibang, chairman of China Development Bank, told a panel at the Asian Financial Forum in Hong Kong that the bank had extended $110 billion in loans to projects along the ancient trade route by the end of 2017. 

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