OREANDA-NEWS. December 07, 2012. The Communist Party Committee of China Development Bank (CDB) held a Central Study Meeting in Beijing at which it conveyed the "spirit of the 18th National Congress of the Communist Party of China" and laid the groundwork for implementing this spirit during the forthcoming stage of CDB-wide study sessions, reported the press-centre of CDB.

The conference was hosted by CDB Chairman Chen Yuan, also CDB’s Party Secretary and representative to the 18th National Congress. Also in attendance at the conference were Zheng Zhijie (CDB President, Deputy Party Secretary and representative to the 18th National Congress), Yao Zhongmin (CDB Chief Supervisor and Deputy Party Secretary), Li Jiping and Yuan Li (both CDB vice presidents and Party committee members), and Zhou Qingyu (CDB Party committee member and Secretary of the CDB Party Discipline Committee).

Chen Yuan described the 18th National Congress as "a significant meeting held at a decisive stage in China’s journey toward the realization of a well-off society". He reported that, representing the 17th CPC Central Committee, President Hu Jintao had delivered a keynote report at the Congress in which he systematically summarized developments of historical importance made during the past 5 and 10 years. According to Chen, President Hu confirmed the historically important position of the "Scientific Outlook on Development" theory in terms of the Party’s thinking; related a series of key theories and real issues that supported and promoted socialism with Chinese characteristics; and discussed the goal of systematically creating a "well-off" society and deepening reform and opening, thereby laying the foundations for important issues such as developing the "Five-in-One" model and strengthening the Party. Chen described the weeklong congress as being "energized and enlivened".

"The 18th National Congress report reflected the times we are in, kept close to the heart of the Party, and conveyed the aspirations of the Chinese people," Chen said. "It acts as the Party’s guiding political principles and a compass for achieving the success of socialism with Chinese characteristics in the new era. It is both inspiring and encouraging. CDB’s main political mission for the present and future period will be to study in earnest, truly comprehend, and methodically implement the spirit of the 18th National Congress. CDB must, across the whole organization, consciously rouse the thinking and actions that comprise the spirit of the 18th National Congress and allow this spirit to guide the implementation of development financing. By doing so, CDB can better serve scientific development and contribute more substantially to the magnificent goal of creating a wholly well-off society".

Chen pointed out that China currently faces an important period of strategic opportunity. He said that, in order to deepen the reform of the financial system and make full use of this period of strategic opportunity, it was necessary to speed up industrialization, the development of information systems, urbanization and the modernization of agriculture. Chen explained that doing so was not merely an important means of achieving steady growth, but was the inevitable choice in terms of transforming the mode of economic development and adjusting the economic structure. Chen stated that China’s financial industry needed to serve these four areas simultaneously, improve the overall financial landscape and prevent financial crises in order to construct a strong, efficient, favorable and internationally competitive financial system. This would maximize the chances of turning strategic opportunities into strategic realities, and in turn transform strategic realities into developmental results, Chen said.

Chen informed the meeting that the first plenary session of the 18th CPC Central Committee, held shortly before the meeting, had elected a new central leadership with Xi Jinping as General Secretary. Chen described the members of the new leadership as "steadfast in their political beliefs", "possessing both moral integrity and professional competence" and "in the primes of their lives". He said that the new leadership had "won the wholehearted support of both Party and nation" and that it looked set to lead China and its people toward a more glorious future.

Finally, Chen stated that, "CDB must unite around the Party Central Committee, of which Comrade Xi Jinping is General Secretary, to perform well each and every task while taking scientific development as our main theme and transforming the mode of economic development as our main focus, as is instructed by the Party Central Committee. First, we must plan ahead and act early in serving scientific development, giving full play to our role as a pillar bank in medium- to long-term financing and thereby supporting China’s strategy for medium- to long-term development. Second, we must better serve the "Five-in-One" model by stepping up our support in areas including infrastructure projects, development in Central and West China, and the promotion of strategic emerging industries, so as to hasten both the transformation of the mode of economic development and actual economic development itself.

Third, we must proactively assume our social responsibility by increasing financing support in areas that improve people’s livelihoods, with a key focus on affordable housing, micro-financing and student loans. Fourth, we must work hard to expand our international business in order to serve China’s "going global" strategy and to bring about mutual benefits for China and cooperating countries. Fifth, we must make use of investments, loans, debt financing, leasing, securities and other financial services to guide social capital toward key areas and weak links, and therein promote the widespread, coordinated and sustainable development of both economy and society.