China lending fact of the day

China has drastically curtailed the overseas lending programme of its two largest policy banks, after nearly a decade of ambitious growth which at its peak rivalled that of the World Bank, new research indicates.

Lending by the China Development Bank and the Export-Import Bank of China collapsed from a peak of $75bn in 2016 to just $4bn last year, according to data compiled by researchers at Boston University and seen by the Financial Times.

Here is the full FT article.  People used to ask me what I think of Belt and Road Initiative (they don’t any more), and there is my answer.


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