China Development Bank Corp. (CDB), a government-owned policy bank that lends worldwide, is teaming up with Barclays Plc. to expand its global business, the Wall Street Journal reported Tuesday. Under the agreement, Barclays will provide corporate and investment banking services to CDB in key cities from New York to Johannesburg. The partnership comes as CDB has steadily grown its global reach in recent years by offering loans to support the Chinese government’s development priorities and by backing state-owned companies seeking expansion overseas, the report said. The deal covers stock and bond sales, foreign exchange, commercial banking and staff training.
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