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CDB Wins the Bank of the Year Award for Best Service and High-quality Development

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Time:2018-12-12  Source:CDB

On December 12, 2018, CDB won the Bank of the Year Award for Best Service and High-quality Development at the 2018 Gold Medal Awards Ceremony of Chinese Financial Institutions held in Beijing, which was hosted by Financial News and supported by the Institute of Finance and Banking, Chinese Academy of Social Sciences.

According to the host, since the start of 2018, CDB has put more efforts and resources on boosting economic restructuring and upgrade, with a view to expanding effective supply, fostering new development drivers, and promoting high-quality development. First, CDB has been helping local governments reduce debt levels and making continuous efforts in enhancing the control of major risks and in innovating risk control methods. Its non-performing loan rate has been maintained below 1% for 54 consecutive quarters. Second, CDB has been deepening its collaboration with national authorities and local governments to promote poverty alleviation in poverty-stricken regions as well as in selected regions and to reduce poverty through collaboration between eastern and western regions. As of the end of October 2018, CDB had granted 1.45 trillion RMB of poverty alleviation loans to a total of 1,118 national and provincial-level poverty-stricken counties and reported a loan balance of 1.13 trillion RMB. Third, to promote the development of infrastructures, basic industries and pillar industries, CDB has been supporting major construction projects in areas including utility tunnels, sponge cities, distinctive towns, hydraulic engineering, and modern integrated transportation systems, while facilitating the transformation and upgrade of the energy and transportation industries. Fourth, CDB has been promoting regional coordinated development by supporting the construction of Xiong'an New Area, Yangtze River Delta Economic Zone, and Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area) and by forming a mechanism to promote collaboration within the Greater Bay Area through extensive consultation and joint contribution. Fifth, CDB has been developing a more complete system of green financial products and vigorously supporting the control of air, water and soil pollution, with a view to improving the natural environment. Sixth, CDB has been supporting the construction of the Belt and Road by granting special loans worth 250 billion RMB, promoting the implementation of major international collaboration projects, and enhancing multilateral financial collaboration, as well as think tank collaboration, collaborative planning and training, and other collaborative projects aiming to strengthen soft power.

The Gold Medal Awards Ceremony of Chinese Financial Institutions is an influential annual event that enjoys authority in the financial sector and the broader society. Every year, preeminent experts are invited to form an expert panel, which is commissioned to produce in an impartial, objective and transparent manner a list of financial institutions with outstanding contribution to China's economic and social development.