OREANDA-NEWS. May 16, 2013. An inauguration ceremony was held in Beijing this morning for the founding of the China Council for the Promotion of Development Financing. Chen Yuan, vice chairman of the CPPCC National Committee and president of the China Council for the Promotion of Development Financing, attended the ceremony and made an important speech. Hu Huaibang, party committee secretary of the China Development Bank (CDB) attended the ceremony. Chen and Hu then jointly inaugurated the founding of the council.    

A representative from the Ministry of Civil Affairs read out the ministry's approval for the registration of the China Council for the Promotion of Development Financing and issued a certificate of registration. Li Yang, Xu Ruixin, Zheng Zhijie, Yuan Li, Chen Min, Wang Guogang, and Yuan Yinghua, vice presidents of the council, attended the ceremony. Representatives from 80 institutional members including China CNR Corporation, China Energy Conservation Investment Corporation, China Three Gorges Corporation, and China Cable Information Network Company, attended the ceremony.

Chen Yuan pointed out: The founding of the China Council for the Promotion of Development Financing is a major milestone in the socialization of development financing, and it symbolizes the recognition of development financing by the CPC Central Committee and the State Council and the affirmation of development financing by all sectors of the general public. Chen said: After its founding, the China Council for the Promotion of Development Financing will give full play to the role of social organization in "providing services, reflecting demands, and standardizing behavior", coordinate with the CDB with its advantages in investment and financing, and jointly push forward the development of the cause of development financing in order to help complete the building of a well-off society in an all-round way. 

Speaking on behalf of the business regulatory unit, Li Yang, vice president of the China Council for the Promotion of Development Financing and vice president of the Chinese Academy of Social Sciences, affirmed the position and role of development financing in China's economic and social development. On behalf of institutional members of the council, Xi Guohua, president of China CNR Corporation, spoke on conscientiously fulfilling the member's rights and obligations and joining hands with the vast numbers of members in making concerted efforts to jointly create a bright future for the cause of development financing.

As a major institutional practitioner and promoter of development financing in China, the CDB initiated the exploration and innovation of development financing with Chinese characteristics, creatively integrated principles of advanced international finance with China's national conditions, integrated the government's advantages in organization and coordination with its financing advantages, integrated the national strategy with market operations, and created the notions and methods of development financing with Chinese characteristics. Up to now, development financing has played a role in increasingly more fields and has become a major force in pushing forward economic and social development.