As of Oct 28, the entire 800 billion yuan ($112 billion) allocated for new policy-based financial instruments in 2026 has been fully deployed, supporting a batch of key projects and helping expand effective investment.
Data from the three policy banks confirmed the breakdown of the deployment. China Development Bank deployed 365 billion yuan through its new policy-based financial instrument, covering projects with total investment of 5.5 trillion yuan. The Export-Import Bank of China deployed 120 billion yuan, driving total investment of over 1.7 trillion yuan. The Agricultural Development Bank of China deployed 315 billion yuan, involving projects with total investment of approximately 4.39 trillion yuan.
Where the funds went
Artificial intelligence, the digital economy and other emerging sectors were major destinations for the capital. China Development Bank directed 179.01 billion yuan toward projects in AI, the digital economy, green and low-carbon development, biomedicine and consumption. The Export-Import Bank of China helped bring over 220 projects in digital economy and AI-related emerging industries to implementation, with disbursements accounting for nearly 50 percent of its total. The Agricultural Development Bank of China focused on nearly 2,000 projects in AI, the digital economy, the low-altitude economy, consumption and green and low-carbon fields, with investment amounts approaching 200 billion yuan.
Support for private investment
The instruments also stepped up support for private investment and projects involving private capital. China Development Bank allocated 127.99 billion yuan to private investment and projects with private capital participation, accounting for 35.1 percent of its total. The Export-Import Bank of China facilitated over 210 projects involving private investment and private capital, with disbursements making up nearly 40 percent of its total. The Agricultural Development Bank of China backed nearly 400 such projects with over 65 billion yuan, representing more than 20 percent of its total.
Focus on major provincial economies
Meanwhile, the instruments gave active support to provinces with larger economic output. Across 11 such provinces, China Development Bank deployed 277.86 billion yuan, accounting for 76.1 percent of its total. The Export-Import Bank of China helped implement over 330 projects there, with disbursements exceeding 70 percent of its total. The Agricultural Development Bank of China directed funding to more than 2,100 projects with investment of nearly 220 billion yuan, about 70 percent of its total.
How the funds will support project construction
Currently, a key challenge for some projects is a lack of funding, especially capital. The 800 billion yuan deployed through the new policy-based financial instruments is entirely used to replenish project capital, which should help resolve the bottleneck of insufficient capital for major projects, enhance financing capacity, and leverage bank loans and social capital.
Next, the three policy banks will carry out post-investment management, actively provide supporting loans for projects, accelerate the conversion of physical work volume, and ensure the instruments deliver their intended service efficiency.
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