OREANDA-NEWS. May 25, 2012. The International Advisory Council (IAC) of China Development Bank (CDB) convened for its 13th annual meeting in Beijing. The 12 attending Council members, a panel of most esteemed and globally acclaimed economists, policymakers, central bankers, and alike, embarked on a wide ranging and in-depth discussion on today’s most prevailing economic topics: the economic and financial situation of the world and China, the European crisis, and the role of the financial sector in supporting the development of the real economy.

CDB Chairman Chen Yuan, and Vice Chairman of the National Reform and Development Commission (NDRC), Zhang Xiaoqiang, addressed the meeting. Chaired by CDB Executive Vice President Gao Jian, the meeting was also attended by other CDB participants, including: Yao Zhongmin, Chairman of the Supervisory Board, Executive Vice President Yuan Li, Member of the Executive Management Team Zhao Jianping, Secretary of the Board of Directors Chen Min, Chief Risk Officer Xu Qiying, Chief Audit Officer Chen Jizhong, as well as directors and supervisors of CDB. Other participants were from the Ministry of Finance, China Banking Regulatory Commission (CBRC), and Central Huijin (CDB’s shareholder). Li Dongrong, Assistant Governor of the People’s Bank of China spoke at the luncheon following the meeting.

The attending Council members this year included: Paul Keating, former Prime Minister of Australia; Dr. Jacob Frenkel, former Governor of the Bank of Israel and current Chairman of JPMorgan Chase International; Jean Lemierre, former President of European Bank for Reconstruction and Development and current Senior Adviser to the Chairman of BNP Paribas; Maurice Greenberg, former Chairman of American International Group (AIG) and current Chairman and CEO of C.V. Starr & Co.; Jacques Kemp, former CEO of ING Asia/Pacific; Dr. Uli Sigg, former Swiss Ambassador to China; Hans Reich, former CEO of KfW and current Chairman of Public Sector Group of Citigroup; Dr. Lawrence Lau, former Vice-Chancellor of the Chinese University of Hong Kong and current Chairman of CIC International (Hong Kong); Andrew Sheng, former Chairman of Hong Kong Securities and Futures Commission; Ng Kee Choe, former Vice Chairman of DBS Bank and current Chairman of Singapore Power; Sir David Wright, Vice Chairman of Barclays Capital; and Toyoo Gyohten, former Vice Minister of Finance and current President of the Institute for International Monetary Affairs.

In addition to offering perspectives on the assigned subjects, the Council members also addressed specifically CDB’s strengths and commendable role in development finance and China’s real economy growth, and made constructive recommendations on CDB’s development plans going forward.

The CDB International Advisory Council meets once annually and its primary mandate is to advise the Bank on its development strategies and provides counsel on industry trends in a global context.