CDB says no plan to go public, introduce strategic investors

Mar. 10, 2009 (China Knowledge) - China Development Bank (CDB), the biggest policy bank in China, currently has no intention to go public and introduce overseas strategic investors, said Jiang Chaoliang, president of CDB, on Saturday.

He also denied the rumor that CDB would purchase Shenzhen Development Bank<000001>, and another rumor that it is in negotiations with China Investment Corp to acquire CITIC Capital, adding that the lender has no plan to buy any commercial bank.

In the bank's original reform plan, it targeted some strategic investors such as the pension fund. However, the fund has not been taken into consideration because the capital return has huge risk under current situation, said Jiang, adding that CDB will introduce the pension fund as strategic investor only at appropriate time.

CDB, which just converted itself into a commercial bank from a policy lender, said it would provide full support to China's private enterprises to invest in foreign natural resources to ensure China a long-term and stable supply of these resources, according to China Knowledge's earlier report.