China, People’s Republic of

The People’s Republic of China (PRC) is a major contributor to ADB development finance and knowledge-sharing initiatives. ADB works with PRC’s Ministry of Finance and domestic commercial entities such as the Bank of Beijing, China Construction Bank Corporation, The Export-Import Bank of China, Huaxia Bank, and Shanghai Pudong Development Bank on directing development finance to investment projects.

At a Glance

Cumulative Project-Specific Cofinancing

$1.5 billion

  

Cumulative Trust Funds Contribution

$90 million

  

2020 Project-Specific Cofinancing

  • $206.5 million

The PRC is the singular donor to the PRC Poverty Reduction and Regional Cooperation Fund (PRCF). Established in 2005, the fund has supported development in Central Asia and the Greater Mekong Subregion. The PRCF prioritizes technical assistance that directly benefits a project, particularly project preparation, in its future funding consideration.

The PRC prioritizes investments in projects that promote regional connectivity and cooperation, poverty reduction, and knowledge sharing. ADB works with the PRC’s Ministry of Finance and domestic commercial entities on directing development finance to investment projects. Among the commercial entities are the following:

  • Bank of Beijing
    Cumulative Project-Specific Cofinancing: $510 million
  • China Construction Bank Corporation
    Cumulative Project-Specific Cofinancing: $147.1 million
  • Huaxia Bank
    Cumulative Project-Specific Cofinancing: $400 million
  • Shanghai Pudong Development Bank
    Cumulative Project-Specific Cofinancing: $162.4 million

As of December 2020, ADB’s Trade Finance Program (TFP) has supported 5,200 export and import transactions to and from the PRC (through PRC and non-PRC banks) to developing Asia valued at over $3.1 billion. Exports and imports were to 13 countries, but mostly to Bangladesh, Pakistan, and Viet Nam. The program works with seven banks domiciled in the PRC and has provided guarantees supporting $77.8 million in trade in over 70 transactions. The TFP has mobilized $38.6 million in cofinancing with banks operating in the PRC. Furthermore, ADB’s Supply Chain Finance Program (SCFP) has supported $810 million in trade over 1,765 transactions as of December 2020 in the PRC. The SCFP has mobilized $444 million in cofinancing in said country. This cofinancing helps leverage ADB resources and brings more support for developing members as well as exports, imports, growth, and job creation.

Active Trust Fund

1 January 2014–31 December 2020 Cofinanced Projects
Country Project Cofinancing Amount ($ million) Type of Cofinancinga
Afghanistan Energy Supply Improvement Investment Program – Tranche 2 1 G
Bangladesh Knowledge Solutions for Inclusive and Sustainable Development 0.5 TA
Dhaka and Western Zone Transmission Grid Expansion 0.8 G
Kyrgyz Republic Accession to the Eurasian Economic Union – Capturing the Opportunities and Addressing the Risks (Supplementary) 0.2 TA
Mongolia Strategy for Northeast Asia Power System Inteconnection 0.5 TA
Methane Gas Supply Chain Development Master Plan 0.5 TA
Nepal Support for Project Implementation of the Nepal Earthquake Rehabilitation and Reconstruction Program (Supplementary) 0.6 TA
Pakistan Revitalizing the Ecosystem of Ravi River Basin 0.6 TA
Preparing Urban Development Projects (Supplementary) 1.5 TA
Papua New Guinea Water Supply Scheme for Tete Settlement 0.8 G
People's Republic of China Qinghai Delingha Concentrated Solar Thermal Power 75.6 L
Low-Carbon District Heating Project in Hohhot in Inner Mongolia Autonomous Region 162.4 L
Chemical Industry Energy Efficiency and Emission Reduction 81.7 L
Air Quality Improvement in the Greater Beijing–Tianjin–Hebei Region - China National Investment and Guaranty Corporation’s Green Financing Platform 200 L
Air Quality Improvement in the Greater Beijing–Tianjin–Hebei Region - China National Investment and Guaranty Corporation’s Green Financing Platform 400 L
Air Quality Improvement in the Greater Beijing–Tianjin–Hebei Region - China National Investment and Guaranty Corporation’s Green Financing Platform 310 L
Air Quality Improvement in the Greater Beijing-Tianjin-Hebei Region--Henan Cleaner Fuel Switch Investment Program 206.5 L
Uzbekistan Water and Sanitation Strategy Development and Capacity Building 0.8 TA
Preparing Urban Development and Improvement Projects (Supplementary) 1 TA
Road Subsector Development Strategy and Action Plan (Supplementary) 0.5 TA
Regional Advancing Regional Cooperation and Integration through Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area and Indonesia-Malaysia-Thailand Growth Triangle 0.7 TA
Assessing Economic Corridor Development Potential Among Kazakhstan, Uzbekistan, and Tajikistan 0.8 TA
Building Capacity for Enhanced Connectivity in Southeast Asia 0.3 TA
Capacity Building Support for Asia-Pacific Economic Cooperation Financial Regulators Training Initiative 0.6 TA
Central Asia Regional Economic Cooperation: Knowledge Sharing and Services in Transport and Transport Facilitation 0.4 TA
Central Asia Regional Economic Cooperation: Supporting Capacity Development Needs of CAREC 2020 (Supplementary) 0.5 TA
Central Asia Regional Economic Cooperation: Working with the Private Sector in Trade Facilitation (Phase 2) 0.5 TA
Connecting the Railways of the Greater Mekong Subregion 0.5 TA
Energy System Analysis, Technology Road Maps and Feasibility Studies for Pilot Testing 0.7 TA
Enhancing Effectiveness of Subregional Programs to Advance Regional Cooperation and Integration in Southeast Asia 0.7 TA
Enhancing Regional Knowledge Sharing Partnerships 0.8 TA
Greater Mekong Subregion: Capacity Development for Economic Zones in Border Areas 0.4 TA
Harmonizing the Greater Mekong Subregion Power Systems to Facilitate Regional Power Trade 0.5 TA
Infrastructure Public-Private Partnership Pipeline Development Support 0.8 TA
Mainstreaming Results-Based Public Sector Management – Supporting the Initiatives of the Asia-Pacific Community of Practice on Managing for Development Results 0.5 TA
Modernizing Sanitary and Phytosanitary Measures to Facilitate Trade 0.8 TA
Policy Coordination and Planning of Border Economic Zones of the People's Republic of China and Viet Nam 0.4 TA
Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3 0.5 TA
Promoting Low-Carbon Development in Central Asia Regional Economic Cooperation Program Cities 0.7 TA
Promoting Regional Knowledge Sharing Partnerships (Supplementary) 0.5 TA
Provision of Knowledge Products and Services to Developing Member Countries through Systematic Knowledge Sharing (Supplementary) 0.2 TA
Railway Sector Development in Central Asia Regional Economic Cooperation Countries 1 TA
Regional Evaluation Capacity Development II 0.5 TA
Second Greater Mekong Subregion Corridor Towns Development 0.5 TA
Strengthening Asia's Financial Safety Nets and Resolution Mechanisms 0.1 TA
Strengthening Compliance Review and Accountability to Project Affected Persons of Financial Intermediaries 0.2 TA
Strengthening Institutions for Localizing Agenda 2030 for Sustainable Development (Supplementary) 0.5 TA
Strengthening Knowledge and Actions for Air Quality Improvement 0.8 TA
Strengthening Knowledge Management in Central and West Asia (Supplementary) 0.7 TA
Study for a Power Sector Financing Road Map within Central Asia Regional Economic Cooperation 0.5 TA
Supporting the Asian EXIM Banks Forum 0.5 TA
Universal Health Coverage for Inclusive Growth: Supporting the Implementation of the Operational Plan for Health 2015-2020 (Supplementary) 0.5 TA
Integrated High Impact Innovation in Sustainable Energy Technology-Energy System Analysis, Technology Road Maps and Feasibility Studies for Pilot Testing (Subproject 1)(Supplementary) 0.3 TA
Implementing the Integrated Trade Agenda in the Central Asia Regional Economic Cooperation Program 0.8 TA
Developing an Accountability Mechanism Framework for Financial Intermediaries 0.2 TA
Strengthening Fiscal Governance and Sustainability in Public-Private Partnerships (Supplementary) 0.5 TA
Preparing Sustainable Energy Projects in Central Asia 1.6 TA
Better Customs for Better Client Services in Central Asia Regional Economic Cooperation Countries 0.5 TA
Developing Partnerships for Knowledge Sharing on Natural Capital Investment in the Yangtze River Economic Belt 0.2 TA
Connecting the Railways of the Greater Mekong Subregion-Phase 2 0.5 TA
Addressing Health Threats in Central Asia Regional Economic Cooperation Countries and the Caucasus 0.4 TA
Building Financial Resilience and Stability to Reinvigorate Growth 0.2 TA
Creating Ecosystems for Green Local Currency Bonds for Infrastructure Development in ASEAN+3 0.5 TA
Enhancing Knowledge as Public Goods for Project Innovation, Demonstration, and Replication 0.5 TA
Greater Mekong Subregion Sustainable Agriculture and Food Security Program (Supplementary) 0.8 TA
Regional Support to Address the Outbreak of Coronavirus Disease 2019 and Potential Outbreaks of Other Communicable Diseases (Supplementary) 2 TA
Southeast Asia Agriculture, Natural Resources, and Rural Development Facility – Phase II (Supplementary) 1.2 TA
Strengthening Knowledge and Capacities for the Design and Implementation of Free Trade Agreements Involving Central Asia Regional Economic Cooperation Countries 0.5 TA
Strengthening Social Protection in the Pacific 0.5 TA
Supporting the Central Asia Regional Economic Cooperation Institute 1 TA

a G = official grant cofinancing, L = official loan cofinancing, TA = technical assistance cofinancing

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