China Development Bank

Its abbreviation is CDB. It is a development bank located in China operated under state control. One of its most important functions is to raise funds to support large-scale infrastructure projects in the country.

History

It was established as a financial institution under the command of the State Council in 1994 to support the highest priority infrastructure projects in the country. It has to finance the Government’s macroeconomic projects and policies and promote national economic development. In 2003, it made loans for approximately 460 national debt projects. In 2008, it was incorporated as a China Development Bank Corporation. In 2015, it was officially established as a development financial institution. In 2018, it granted funds to fulfill some of the pending projects. Today, it has approximately 40 national branches and ten abroad.

Swift Code

The Swift Code (Society for Worldwide Interbank Financial Telecommunication), also known as BIC, is used during an international transfer to identify the receiving bank: SDBCCNBJ.

Number of Employees

The bank has approximately 9,000 employees.

Rating

The rating is the evaluation of a bank and the risks it can take in case of not paying a debt. Moody’s, S&P, and Fitch are the agencies in charge of it.

CDB has a rating of:

  • Moody’s = Aa3.
  • S&P =AA-. 

Aa3 (Moody’s) = It has high quality and with a little more risk to long-term risks.

AA- (S&P Global) = It has great quality, is very stable and with little risk.

Headquarters

The headquarters of the entity is in the city of Beijing, People’s Republic of China.

Website

If you want to know more about this bank, enter through its website: http://www.cdb.com.cn/English/.

Services

Some of its main products include foreign currency loans for projects, liquidity loans, sovereign loans, commodity financing and foreign exchange acquisitions, buyer and seller credit, international syndication, factoring, sub-loans, external invoice credit, invoice discount external, refinement abroad and more. Also, it offers capital investments, global settlements, consulting, etc.

Contact

  • Address: No.18 Fuxingmennei Street, Xicheng District, Beijing, PR.China
  • Phone Number: 86 10 68306688