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Sputnik — China Development Bank Backs $62bn Loan Scheme For Mainland Chipmakers Amid US-China Trade Tensions

Summary:
China Development Bank (CBD) has pledged financing for key emerging technologies in China via a 400bn yuan (bn) loan scheme, the South China Morning Post (SCMP) and others reported on Thursday.China's State Council pledged .4tn in May last year to decouple from US emerging technologies and develop domestic artificial intelligence, green tech, energy infrastructure, 5G, transport and numerous other projects.Sputnik InternationalChina Development Bank Backs bn Loan Scheme For Mainland Chipmakers Amid US-China Trade Tensions

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China Development Bank (CBD) has pledged financing for key emerging technologies in China via a 400bn yuan ($62bn) loan scheme, the South China Morning Post (SCMP) and others reported on Thursday.

China's State Council pledged $1.4tn in May last year to decouple from US emerging technologies and develop domestic artificial intelligence, green tech, energy infrastructure, 5G, transport and numerous other projects.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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