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ADB's investment in China hits US$1.2b
(Xinhua)
Updated: 2005-06-06 09:47
The Asian Development Bank (ADB) has invested US$1.2 billion in China's more
than 90 projects, according to a senior economist with the bank.
Peng Longyun, with the ABD China office, said that the ABD loans mainly went
to the fields of communications, energy resources, environment protection and
water conservancy, finance and industries, agriculture and natural resources in
China.
Apart from public loans, ADB also provided US$180 million in free technical
aid, and more than US$185 million of loans and capital stock investment for
Chinese private businesses.
Of all the ADB-loaned projects, 80 percent are in western China, Peng told
the three-day conference on APEC (Asia-Pacific Economic Cooperation)
Recycling-based Economy and China's Western Development, which will conclude
Sunday in Yinchuan, capital city of Northwest China's Ningxia Hui Autonomous
Region.
As one of the leading stockholders, China took part in ADB in 1986. China and
ADB has conducted wider cooperation in economic development, poverty reduction
and environmental protection over the past nearly two decades.
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