China Development Bank

Overview

Founded in 1994, China Development Bank (CDB) (国家开发银行) is a policy financial institution under the direct leadership of the State Council of China. In December 2008, CDB underwent a structural reform and was renamed China Development Bank Corporation Limited. In March 2015, the State Council positioned it as a development finance institution. In April 2017, CDB adopted its current name, China Development Bank, and changed from a joint-stock company to a limited liability company.

As one of three policy banks in China, it is responsible for raising funds for large-scale infrastructure projects, including the Three Gorges Dam and the Shanghai Pudong International Airport. Established by the Policy Banks Law of 1994, the bank is described as the engine that powers the national government's economic development policies. Debts issued by the China Development Bank are owned by local banks and treated as risk-free assets under the proposed People's Republic of China capital adequacy rules (i.e. the same treatment as PRC government bonds). The bank is the second-largest bond issuer in China after the Ministry of Finance.

CDB has 421.248 billion RMB in registered capital. Its shareholders are the Ministry of Finance of China, Central Huijin Investment Ltd., Buttonwood Investment Holding Company Ltd., and the National Council for Social Security Fund, which respectively hold 36.54%, 34.68%, 27.19%, and 1.59% of CDB’s total shares.