BEIJING: Zheng Zhijie, president of the China Development Bank (CDB) said its bank, which happens to be the world’s largest development-oriented financial institution, has an outbound loan outstanding of $328.2 billion.
Zheng was at a conference hosted by Center for China in the World Economy, Tsinghua University when he said that by the end of September 2015, the CDB extended $70.9 billion of new credit to foreign countries, the largest among in Chinese banking history.
CDB is a bank that provides medium to long-term financing assisting in the development of robust economies. The bank has major assets that are twice the size of all development oriented banks including the World Bank combined.
“The overseas credit asset is just a small part of the bank’s 12 trillion yuan ($1.88 trillion) in total asset,” Zheng said. “Non-performing loans only accounted for 0.71 percent of the gigantic asset as of end-September.”
The bank is actively facilitating the One Belt, One Road initiative. It has recently approved a $10 billion Joint Strategic Investment Fund with United Arab Emirates. In September, the CDB issued a $1 billion bond in (city name) and 500 million euros bond in London.
