瑞银：中国资产吸引力飙升 2026年市场有望延续涨势

Core Viewpoint - The China Development Bank (CDB) aims to support high-quality Belt and Road Initiative (BRI) projects by providing over 290 billion RMB in funding for infrastructure, industrial cooperation, and trade in 2025, showcasing its commitment to financial support for participating countries [1][3]. Group 1: Financial Support and Investment - In 2025, CDB will focus on infrastructure connectivity, international industrial cooperation, trade, and financial collaboration, utilizing a variety of financial products such as RMB financing windows and special loans for the BRI [1][3]. - CDB's funding for the BRI includes a special loan of 30 billion RMB for the China-Europe Railway Express, aimed at enhancing operational efficiency and infrastructure [3]. - The CDB's subsidiary, the China-Africa Development Fund, will contribute 8.39 billion RMB to support African industrialization, facilitating 20.39 billion RMB in investments from Chinese companies, both figures representing historical highs [3]. Group 2: Support for Foreign Trade - CDB has established a special fund to support foreign trade amidst a complex international trade environment, focusing on new business models and addressing the financing challenges faced by small and micro foreign trade enterprises [3][4]. - The bank has supported over 10,000 small and micro foreign trade enterprises in 2025, alleviating their financing difficulties and contributing to the stability of foreign trade [3]. Group 3: Future Directions - CDB plans to continue leveraging its comprehensive financial services to enhance cooperation in traditional infrastructure while expanding into emerging areas like green finance and digital economy [4]. - The bank's significant funding in 2025 reflects its commitment to national strategies and the transition of the BRI towards a balanced development of hard and soft connectivity [4].