The Guangxi Branch of the China Development Bank (CDB) revealed that the bank's credit loan for students in Guangxi Zhuang autonomous region hit 2.93 billion yuan ($421.9 million) in 2018.

Up until now, CDB has issued a total of 16.57 billion yuan in credit loans to students in Guangxi, benefitting 1,036,500 poverty-stricken students.

The 2018 was the 10th year of the Guangxi student credit education loans scheme. CDB is actively carrying out education poverty alleviation in Guangxi and does not set limits on the size, number and quota of poverty-stricken students and areas it helps.

It has built a network of student loans that fully covers 111 counties in Guangxi.

According to statistics, in the past 10 years a total of 12,400 graduate students, 517,200 undergraduate students, and 494,500 college students have completed their studies through Guangxi student credit education loans.

In order to better serve students with loan needs, in recent years the Guangxi Branch of CDB has successively launched innovative measures such as township agencies for student credit education loans and launched the full coverage of electronic contracts.

Since 2016, the Guangxi Branch of CDB and the Education Department of Guangxi has vigorously promoted the expansion of the student loan acceptance business to townships, allowing poverty-stricken students to apply for student loans locally.

At present, there are 47 township agencies for student credit education loans in Guangxi, which not only provides greater convenience for the students applying for student loans, but also reduces the workload and improves the working efficiency of the county-level student aid management department.