Chinese banks have issued more than 200 billion U.S. dollars of loans to support over 2,600 Belt and Road projects in transportation, infrastructure, equipment export and other fields, according to Huang Hong, vice chairman of China Banking and Insurance Regulatory Commission (CBIRC).
Up to now, 11 Chinese banks have established 71 first-tier branches in 27 countries along the B&R routes, while 55 banks from 21 Belt and Road related countries have in turn set up offices in China. At the same time, Chinese-funded insurance institutions have set up outlets in Singapore, Indonesia and other countries.
According to Huang, to better support the Belt and Road construction, China's banking and insurance industry should further open up, promote innovation, enhance risk prevention and attach more importance on legal compliance and social responsibility.