China Development Bank lends 36.1 billion yuan for urban underground pipe renewal
In short
China Development Bank (国家开发银行) said it issued 36.1 billion yuan in loans in the first three quarters of this year to support the renewal of municipal pipelines and underground utility tunnels in Shanghai, Jilin and other places. The bank said it will increase financing for urban infrastructure during the 15th Five-Year Plan period.
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China Development Bank said that in the first three quarters of this year it issued 36.1 billion yuan in loans to support the renewal of municipal pipelines and underground utility tunnels in Shanghai, Jilin and other places. CLS, citing the bank, reported the figure on October 20. The bank said it has carried out the urban renewal action plan and used the strengths of policy-based finance. [ 1 , 3 , 4 ]
Yicai carried the same headline, and 36Kr published a summary credited to CCTV News. Jiemian, which also credited CCTV News, published the longest account. [ 2 , 3 , 4 ]
The Jiemian article said urban underground pipe networks include gas, water supply, drainage, sewage and heating pipelines as well as underground utility tunnels. It described them as the lifeline infrastructure of a city. [ 4 ]
On Shanghai, the article said the city has faced safety risks as its gas pipelines age, and that older pipes have been replaced with corrosion-resistant ones this year. Across 11 districts, more than 1,500 kilometres of grey cast-iron gas pipeline have been renewed in total. The bank's Shanghai branch is exploring a model of special treasury bonds combined with matching development-bank financing. It issued more than 350 million yuan in loans in the first three quarters. [ 4 ]
In Chuzhou, in Anhui, the article said 18,000 kilometres of gas, water supply and drainage pipelines have been put on a three-dimensional digital map, monitored by more than 30,000 sensors. The bank's Anhui branch has issued a cumulative 220 million yuan in loans for the project, supporting a safety monitoring centre and a monitoring network. The article said the system has warned of and dealt with more than 800 hazards, including gas leaks, water supply leakage and waterlogging. [ 4 ]
The bank said that during the 15th Five-Year Plan period it will focus on its main responsibilities and on key areas such as urban infrastructure. It will align with local lists of key projects and increase financing support to make cities more liveable. [ 1 , 4 ]
Why it matters
The documents present the lending as part of the bank's support for urban renewal and urban infrastructure. They give no outside assessment of its effect, so its wider significance is not assessed.
Key facts
- China Development Bank issued 36.1 billion yuan in loans in the first three quarters of this year to support the renewal of municipal pipelines and underground utility tunnels in Shanghai, Jilin and other places. [ 1 , 3 , 4 ]
- The bank said the lending follows its implementation of the urban renewal action plan and draws on the strengths of policy-based finance. [ 1 , 3 , 4 ]
- Its Shanghai branch issued more than 350 million yuan in loans in the first three quarters, for the renewal of ageing gas pipelines. [ 4 ]
- Its Anhui branch has issued a cumulative 220 million yuan in loans for the Chuzhou urban lifeline safety project. [ 4 ]
- The bank said that during the 15th Five-Year Plan period it will focus on urban infrastructure and other key areas and increase financing support. [ 1 , 4 ]
Confirmed by several sources
- Nothing is confirmed by two independent outlets yet.
Still unclear
- Details of the Shanghai and Chuzhou figures, including the 1,500 kilometres of gas pipeline renewed and the more than 800 hazards handled in Chuzhou. They appear only in the Jiemian article, which credits CCTV News; the other documents are short summaries or a headline.
- How the 36.1 billion yuan is split between regions and projects beyond Shanghai, Jilin and the Anhui example. The documents give no breakdown beyond the Shanghai and Anhui branch figures.
- China Development Bank said it issued 36.1 billion yuan in loans in the first three quarters to support the renewal of municipal pipelines and underground utility tunnels in Shanghai, Jilin and other places. Reported by a single source so far
- The bank said that during the 15th Five-Year Plan period it will focus on urban infrastructure and other key areas, align with local lists of key projects and increase financing support. Reported by a single source so far