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Visit of China Development Bank

Development of cooperation with Chinese financial institutions

The delegation of China Development Bank headed by Executive Vice President of the Bank Liu Jin paid a visit to Front Office for Investor Relations of the Administration of Leningrad Region.

Opening the meeting, Director of Economic Development Agency of Leningrad Region Andrey Sergeev noted that over the last years interaction between the Russian Federation and the People’s Republic of China had been dynamically developing. In particular, China expresses its interest in Leningrad region.

Andrey Sergeev told the participants of the meeting about investment attractiveness and advantages of Leningrad region. Representatives of the Chinese delegation, in their turn, told about China Development Bank which is the largest in the country. Liu Jin noted that representatives of the Bank came to Leningrad region in order to discuss possible spheres of cooperation.

One of potential directions of cooperation between the Bank and Leningrad region is development of industrial parks. China has huge experience in this sphere – there are industrial parks in almost all Chinese provinces. According to Liu Jin, China Development Bank has rich experience in implementation of key projects in such spheres as mechanical engineering, shipbuilding, oil and chemical industry which are one of priority development areas of Leningrad region.

It is worth mentioning that representatives of Chinese delegation were surprised by development indicators of Leningrad region. In particular, they were impressed by dynamics of the gross regional product of Leningrad region – its growth came to 47% over the last 5 years.

By the end of the meeting the parties expressed mutual interest and willingness to develop long-term cooperation and to search for joint projects.

“We’ll be glad if we have such a partner in China as your Bank which will be promoting Leningrad region for Chinese business. And, undoubtedly, we are ready to held meetings with your potential clients both in China and in Russia”, summed up Andrey Sergeev.

 

Reference

China Development Bank (CDB) was founded in 1994 as a policy financial institution under the direct leadership of the State Council. It was incorporated as China Development Bank Corporation in December 2008, and officially defined by the State Council as a development finance institution in March 2015.

CDB is the world’s largest development finance institution, and the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance.

CDB currently has 37 primary branches and 3 secondary branches on the Chinese mainland, one offshore branch in Hong Kong and five representative offices in Cairo, Moscow, Rio de Janeiro, Caracas and London, with about 9,000 staff. 

CDB provides medium- to long-term financing facilities that serve China’s major long-term economic and social development strategies. By the end of 2017, its assets grew to RMB 15.96 trillion, a balance of loans of RMB 11.04 trillion. We also further enhanced our sustainability and risk management, delivering a net profit of RMB 113,600 million, ROA of 0.75%, ROE of 9.45%, and capital adequacy of 11.57%. Professional credit rating agencies including Moody's and Standard & Poor's have rated CDB at the same level as China’s sovereign rate.

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Economic Development Agency of Leningrad Region

 

Address: 64 B Malookhtinsky avenue, office 402, Saint Petersburg, 195112, Russia

Phone: + 7 (812) 644 01 23

Fax: +7 (812) 644 01 23 (ext. 2042)

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