Leading banks are confident the Government can reach its target of eight per cent growth this year, reports said yesterday.
The banks believed the best way to achieve the goal was through investing in infrastructure projects such as roads, railways and communication systems, the Hong Kong China News Agency said.
Various banks throughout the mainland have adopted measures to support infrastructure projects.
The Industrial and Commercial Bank of China planned to release more than 90 billion yuan (HK$84 billion) in loans for fixed-asset investments this year, two-thirds of which were for infrastructure, the agency said.
Up to last month, the bank had approved loans worth 20 billion yuan, more than half for infrastructure projects. China Construction Bank's infrastructure loans were estimated at 70 billion yuan.
In a move to further promote such projects the bank has extended the power of its branches to approve and guarantee loans. It has also employed more staff to cut the loan-approval process from 80 days to 30.