OREANDA-NEWS. May 23, 2013. The Fujian Provincial Government and the China Development Bank (CDB) held a high-level forum in Fuzhou today to sign a Development Financing Cooperation Memorandum on Jointly Promoting New Urbanization Building in Fujian. You Quan, secretary of the Fujian provincial party committee; Ye Shuangyu, member of the standing committee and secretary general of the provincial party committee; Zhang Zhinan, executive vice governor of Fujian; Zheng Zhijie, president of CDB; and Yuan Li, vice president of CDB, attended the forum.

Under the memorandum, the two sides will strengthen cooperation in planning, financing and other aspects in order to explore a development model for new urbanization with Fujian characteristics. CDB will focus on Fujian's needs for its urbanization strategy and step up financing for Fujian's urbanization building and related projects. Within the next three years, CDB will vigorously support the urban construction and the development of central cities and small and medium cities in Fujian, and will support new urbanization pilot schemes and pilot schemes for comprehensive reform in small towns and townships.

Secretary You Quan thanked CDB for its long-time strong support for the development in Fujian. He said: In recent years, CDB has continually expanded the scale and scope of its business in Fujian and has made positive contributions to the economic and social development in Fujian. Urbanization building requires strong financial support, and I hope CDB will continue to keep its key business presence in Fujian, further step up its support for key project building and the opening and development of Pingtan, and especially play an even greater role in the process of focusing on Fujian's local conditions and pushing forward new urbanization building in Fujian. Fujian will provide more quality service for CDB's business development in Fujian, further strengthen the credit system building, continually improve the financial environment, and make efforts to achieve a mutual benefit and win-win situation for both sides.

CDB President Zheng Zhijie expressed his appreciation for the great support for CDB from the Fujian provincial party committee and provincial government over the years. He pointed out: New urbanization is both a historical mission in China's modernization construction and a complex systematic project that covers infrastructure, industrial development, improving people's livelihood, and ecological and environmental protection, and therefore requires large amounts of longer-term construction funding. As a major bank in longer-term investment and financing, CDB is a participant and a promoter of China's urbanization process and is dedicated to the establishment of a financial system that can offer strong and sustainable support for urbanization. Zheng said CDB will give play to its advantages in development financing in connection with Fujian's local conditions, step up its support for the key areas and weak links in Fujian, and play a greater role in the process of pushing forward new urbanization building in Fujian.

Urbanization building in Fujian has always been a key area that received support from CDB. Since 2003, CDB has strengthened cooperation with the governments at various levels in Fujian, built a market-oriented investment and financing mechanism, and provided large-amount, long-time and sustainable financing support for urban and rural infrastructure building. At present, CDB has issued cumulative urbanization project loans of 172 billion yuan in Fujian, pushed forward the urbanization process and improved the level of urban and rural development in Fujian, and become a major bank in extending support in urbanization.