China Exim Bank deploys over 22B yuan in new policy financing since September

The detail that matters is not the headline figure but the channel: China's policy bank is directing its new instrument entirely through private capital, using a modest public commitment to leverage a far larger pool of project investment. That structure signals Beijing's preference for co-investment over direct state spending at a time when private balance sheets remain cautious. Whether the model keeps attracting private participation, or quietly relies on state-linked partners, is the open question for anyone tracking Chinese real-asset and infrastructure flows.