Disclosed reshuffle program indicated that the Chinese government first boosts the reform of the China Development Bank among the policy lenders. The bank will shift its major service to commercial banking covering long- and medium-term business, investment as well as investment banking. Moreover, it will establish modern enterprise system through ownership reform and float shares on capital market.
With approval from the State Council, the nation's cabinet, its premier investment vehicle China SAFE Investments Limited inked an agreement on the last day 2007 to provide USD 20 billion for the China Development Bank, helping the policy lender make a key step in shareholding reform.
From www.nbd.com.cn, Page 1, Monday, August 18, 2008 info@SinoCast.Com

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