cdb

The CDB, which mainly lends to key national projects, is undergoing share-holding transformation to turn itself into a commercial bank.

In a statement released last night CDB said that it has no plans at the moment to buy SDB or any other banks.

CDB recently received government approval to set up a stockholding company, which could lead to an eventual listing of the bank's shares.

Transformation as a trade policy toward the banks, "when the realization of CDB listing" is always kept dependents of the external market.

Speculation was rife that the detention heralded a crackdown on CDB and a potential challenge to Chen Yuan, the bank's powerful president.

China Development Bank, the policy lender, entered the fray with the purchase of a $3bn stake in Barclays of the UK a year ago.

CDB spokeswoman said the bank had no comment on the injection beyond the central bank's statement.

The globalization of Chinese firms has been getting faster and its scale bigger, giving CDB International broad scope to develop, ' he said.

People familiar with Citi say the US bank was more or less steered to CDB as the proper counterparty for a dialogue with the Chinese.

The CDB loan underscores the bank's move to diversify its investment portfolio to become more global and spread across different sectors.

The CDB loan comes in the form of a 10-year debt facility, which could be renewed for a further three years.

China Development Bank, a major state-owned lender, said it had cancelled a bill issuance scheduled for Friday.

CDB already owns a stake in Barclays Bank and is in the process of transforming itself into a commercial lender.

CDB was rocked by scandal in early June when Wang Yi, the bank's deputy president, was detained for alleged financial crimes.

But CDB was never able to submit a formal bid and Allianz over the weekend agreed to sell Dresdner to German rival Commerzbank.

The CDB contains an operation code defining the particular operation to perform and a number of operation-specific parameters.

Internationally, CDB has issued more bonds than any other Chinese institution.

In early January, the CDB team held at least a dozen conference calls with Citi executives.

Based on yesterday's share price, the value of CDB's investment in Barclays has roughly halved from when it bought the stake a year ago.

In the process, CDB and EximBank have operated at a scale and speed that cannot be matched by most other financial institutions.

"They thought of it as legitimising China, " says one CDB adviser.

CDB is in talks with Brazilian state-owned Petroleo Brasileiro SA, or Petrobras, regarding further loans for the oil company, Mr. Chen said.

The money CDB realistically could hope to put to work went from $5bn to under $3bn.

As most of CDB's lending is to government agencies, or projects backed by Beijing, loan losses have tended to be low.

But Chen Yuan, CDB governor, told the Financial Times it was seeking new international financing opportunities in energy and minerals.

This could make it more difficult for CDB to carry out its overseas expansion plans.

So far, the drug, which is known as CDB-4022, has been tested only on animals, but human trials are expected to start soon.

Similar concerns stopped CDB from taking a huge stake in Citigroup, as the US financial group desperately sought fresh sources of funds.

Concerned at the magnitude of the challenge and their own ignorance, the team at CDB appealed to Goldman Sachs to advise it on valuing Citi.

The deal with CDB will also enable Barclays to sell its asset management products into the fast-growing Chinese market.

CDB and China EximBank do not publish figures for overseas loans.

Ahead of the crisis, Mr Chen flirted with several big investments in western banks (and CDB did buy a small stake in Barclays of the UK).

However, China Development Bank publicly denies reports it has acquired a small Rio stake.

China Development Bank, known as CDB, has also cut a global profile recently.

CDB will manage the new fund on a semi-commercial basis by taking equity and quasi-equity stakes in Chinese firms doing business in Africa.

But an alternative deal, to sell Dresdner to China Development Bank, remained an option yesterday, people familiar with Allianz said.

Reports yesterday emerged that state-owned China Development Bank, which funds dams, airports and bridges, was considering a bid.

One visitor was Chen Yuan, head of China Development Bank and the son of a Communist revolutionary icon.

Banks such as China Development Bank could also be tapped to help finance a bid and even take a slice of equity in any deal.

In the past, regulators have not always granted CDB's requests.

CDB is the natural repository for banking assets, although China Investment Corporation may disagree.

As a developmental financial institution of the government, China Development Bank (CDB) is also a special economic organization.

Stephen Peel, managing partner and head of Asia for TPG, said CDB has played an important role in the overseas expansion of Chinese firms.

Observe the instruction given by CDB scaffold inspector and accept their monitoring and inspection.

Unlike most regular commercial banks, CDB raises most of its money via long-term bonds.

These days, when the governor of China Development Bank travels abroad, he is treated almost like a head of state.

It will invest as a limited partner in Rmb-denominated funds that focus on the domestic market, according to CDB Capital executives.

Most of the new investment was funded by preferential loans from state-owned Chinese banks with CDB leading the way.

The agreement with CDB might provide Barclays with some advantage against its competitors.

Neither ABC nor CDB is expected to introduce foreign strategic investors.

The CDB will gain commercial expertise from Barclays and the UK bank may gain better access to China in return.

Mr. Schmidt said CDB is one of the school's largest clients.

CDB had meanwhile not fared well with the stake it took in Barclays of the UK.

If the deal fails, CDB and Temasek will still retain a combined 5. 2 per cent in the British bank.

"We thought they were bluffing, " says one adviser to CDB.

On the weekend of January 12-13 , as the deadline for the financing approached , the CDB team was tense .

While Barclays' partnership with CDB may not have put any capital at risk, there could be less to gain.

Value of total assets, the CDB is China's fifth largest commercial bank.

CDB declined to comment yesterday.

Here's how the CDB works its magic.

CDB is not an ordinary bank.

The private-equity firms, meanwhile, could gain access to other deals in China through CDB's connections.

The CDB came under fire late last year for its role in plans for a palm-oil plantation in a forested region of Indonesia.

Barclays and CDB have known each other for many years, he says.

CDB's focus is on project financing.

The writer is a former Australian prime minister and a member of the inter- national advisory council of China Development Bank

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