I. History of China Development Bank
1.1994-1998: China development bank was established in1994, with Yao Zhenyan as its first president. During this period, CDB was positioned as a policy bank, and its main funds came from financial funds, not physical banks, but government lending institutions. In other words, the funds obtained by enterprises from CDB come from state grants. Therefore, CDB has been positioned as the second finance from the beginning, which gives CDB the title of "small finance department". 2. 1998-2007: The gestation period of transformation 1998, CDB welcomed its second president, Chen Yuan, who, as the son of a party veteran, became the deputy governor of the People's Bank of China after losing the election of vice mayor in Beijing, laying an important foundation for CDB's commercial transformation. 3.20 15 till now: policy banks have returned to 20 15, and CDB's commercial transformation has been discussed and criticized. In this context, the State Council approved CDB's deepening reform plan in March, and defined CDB as development finance, which means CDB's status as a policy bank began to return. In the same year, the CBRC clarified the zero-risk weighting policy for financial bonds, and the credit policy was effective for a long time.
Second, the strategic positioning of China Development Bank:
1.CDB mainly serves the important medium-and long-term development strategy of the national economy by developing medium-and long-term financial services such as credit and investment. Give full play to the developmental financial functions of serving the national strategy, relying on credit support, market operation, and ensuring capital preservation and meager profit, give full play to the role of medium and long-term investment and financing, increase support for key areas and weak links in the economy and society, and promote sustained and healthy economic and social development. 2. Development banks adhere to the orientation of development finance, and conduct business in accordance with the service areas and business scope determined according to law, with development business as the mainstay and commercial business as the supplement. 3.CDB is the largest development financial institution in the world, and also the largest foreign investment and financing cooperative bank, medium and long-term credit bank and bond bank in China.
After years of commercial transformation, CDB has finally returned to the origin of policy banks. Although the orientation of developing finance is still vague, the path of CDB is clear, that is, using the advantages of national sovereign credit and low-cost long-term bond financing to provide financial support for national reform and strategic transformation.