China Development Bank London | China Development Bank Hong Kong At Www.Cdb.Com.Cn
China Development Bank Corporation (CDB) is a wholesale lender specializing in providing medium- to long-term financing facilities. CDB is one of the Chinese government’s primary institutions for financing domestic infrastructure, basic and key industries, and high-priority national projects.
The bank has 34 branches and two representative offices in mainland China. It also has a branch in Hong Kong and representative offices in Cairo and Moscow. China Development Bank was founded in 1994 and is headquartered in Beijing, China.
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History of China Development Bank London.
CDB was founded in 1994 along with two other policy banks, Agricultural Development Bank of China and The Export-Import Bank of China. As a policy bank, CDB is responsible for providing debt funding to major infrastructure projects, both within and outside China. Its main objective is to support the macroeconomic policies of the central government, national economic development, and strategic structural changes in the economy and remove infrastructure bottlenecks. In line with its mandate, the CDB reports directly to the PRC Government. At the end of 2013, the CDB had a loan book of US$1.3 trillion.
From 1994 to 1998, The China Development Bank was poorly managed and had serious profitability problems. Mostly with a large non-performing loan book. When Chen Yuan took over as the Head of CDB in 1998 the bank’s non-performing loan ratio amounted to over 40% but 2 years down the line as head of CDB, the non-performing loan ratio reduced to 5%. This has been credited to series of strategies put in place to improve the bank’s profitability: the establishment of a better credit risk assessment, the implementation of landmark deals, and market-based mechanisms to raise funds. The bank prides itself on meeting international best practices.
Unlike Chinese commercial banks, the CDB is not listed and hence provides very little public disclosure. It does not take private deposits but instead it issues bonds. The CDB is the second-largest bond issue in China after the Ministry of Finance and its bonds enjoy a credit rating equivalent to that of the PRC Government bonds.
Products and Services of China Development Bank Hong Kong
CDB offers a wide range of products and services – mainly focus on the medium and long-term financing to the basic pillar industries and infrastructure industry. Its products and services include;
- Loan financing
- Equity investment
- Proprietary investment
- International Settlements
- Cross Border RMB Settlement
- Consulting and Certifying
- Special Services. This includes;
- Special loans for small and medium-sized enterprises in Africa
- China-Germany special loans for small and medium-sized enterprises
- Special institutional arrangements for large equipment financing insurance
- Arrangements for supporting overseas economic and trade cooperation zones
- China-Hungary special financing arrangements
- China-Greece and China-Germany shipbuilding development funds
- China-Caribbean Infrastructure Special Loans
- Institutional arrangements for nuclear power equipment “going abroad” projects
- Institutional arrangements for high-speed rail “going abroad” projects
Deals and Acquisitions of China Development Bank Hong Kong
2007 – China Development Bank acquired 3.1 % in Barclays
2008 – China Development Bank, bankrolled Aluminum Corp of China’s surprise acquisition of a 12% share in Rio Tinto
2011 – China Development Bank acquired a Stake in Infrastructure Bank of Zimbabwe
Awards of China Development Bank London
- 2008 – Financial News and the Institute of Finance and Banking of the Chinese Academy of Social Sciences: Socially Responsible Bank of the Year
- 2010 – Financial News: Bank of the Year: International Cooperation
- 2015 – Fortune: 87th Ranking in the fortune global 500
Bank’s Website of China Development Bank London