Recently, following the State Council’s endorsement, the CBRC approved China Development Bank(CDB) to incorporate itself as a shareholding company. Its registered capital is RMB 300 billion with MOF holding 51.3% and Central Huijin holding the rest 48.7%. After the incorporation, the China Development Bank will become a commercial bank and rank the fifth among large commercial banks following ICBC, ABC, BOC and CCB.
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CBRC, CDB
Chairman LIU’s speech at the Caijing Magazine Annual Meeting
The year 2008 is an eventful year in the world financial history. The US subprime crisis has evolved into a global financial storm, which, in turn, has caused a downturn in the real economy that has reinforced the strains in the financial system. So far, the negative impact is universal and China is not immune to it. One year ago, when there was a huge debate on whether China could decouple from the world, I said it was only a myth. Now, the Caijing Magazine is offering us a valuable opportunity to look from the hindsight and lay a solid foundation for the future.
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bank, banking, Banks, Businesses, CBRC, china, development, Economic, financial, Financial Crisis, growth, innovation, Investment, Management, marke, markets, sustain
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