500 billion yuan of policy-based financial instruments will support emerging industries such as the digital economy and artificial intelligence

Since May of this year, numerous local governments have held policy briefings or project preparation meetings around new policy-based financial instruments. Recently, some have further refined the list of projects to be included in the fund and clarified the amounts required for application. Local authorities have disclosed that the new policy-based financial instruments will be allocated 500 billion yuan, with a focus on emerging industries and infrastructure, specifically the digital economy, artificial intelligence, the low-altitude economy, consumer sectors, green and low-carbon development, agriculture and rural areas, transportation and logistics, and urban infrastructure. Policy banks such as the China Development Bank, the Agricultural Development Bank of China, and the Export-Import Bank of China are participating.