KUALA LUMPUR: The China Development Bank (CDB) announced on Friday that it was to deliver $8.5 billion in funding for a new China-Malaysia Qinzhou Industrial Park, bank officials said. The funding will cover 81 construction projects within the park, according to Bai Yingfu, head of the CDB’s regional branch in South China’s Guangxi Zhuang autonomous region. The CDB has already issued 5.3 billion yuan in loans to cover some of the projects, including construction on the Qinzhou Port and Qinzhou-Chongzuo highway, he said. Construction on the China-Malaysia Qinzhou Industrial Park, located in the coastal city of Qinzhou in Guangxi, began in October 2011. The park will focus on manufacturing, information technology and the service industry after going into operation. The park is the third of its kind to be developed by China and foreign countries, with two other parks jointly built by China and Singapore. Source: BikyaMasr
