China has allocated a total of 500 billion yuan (USD 70.56 billion) through a new policy-based financial instrument to boost investment, the country’s major policy banks announced on Thursday, according to Xinhua. The China Development Bank, the Export-Import Bank of China, and the Agricultural Development Bank of China allocated 250 billion yuan, 100 billion yuan, and 150 billion yuan, respectively, to support the construction of projects in key areas and address weak links in the economy. The initiative is expected to stimulate more than 7 trillion yuan in investment, according to the policy banks’ statistics. The financial instrument prioritizes projects in technological innovation, consumption expansion, and foreign trade stabilization, while also supporting initiatives in major economic provinces and private investment projects.