17 September 2019

CDB to raise funds for govt housing projects, paper says

China Development Bank has been appointed by the State Council to set up a financial services group dedicated to raising funds for rural housing reform and other welfare housing projects, the 21st Century Business Herald reported Friday. Under the new arrangements, CDB will issue bonds to institutional investors to raise funds for such housing projects. The bank has extended a cumulative 7 trillion yuan (US$1.126 trillion) in loans for rural urbanization projects as of the end of 2013, representing 62 percent of all of its renminbi loans, the report said.

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