OREANDA-NEWS. August 08, 2013. Qinghai Provincial People's Government and China Development Bank (CDB) signed in Qinghai a Strategic Cooperation Agreement for Supporting the Qaidam Circular Economy Pilot Zone. Qinghai Governor Hao Peng, Executive Vice Governor Luo Yulin, and CDB President Zheng Zhijie attended the signing ceremony.

Under the cooperation agreement, the two sides will further step up efforts and scope of cooperation in the infrastructure building in the Circular Economy Pilot Zone, the building of a circular economy industrial chain, new urbanization development on the fringes of the circular economy industrial park, the development of key enterprises in the circular economy industrial chain, and the extension of the industrial chain. CDB will provide policy support in offering preferential resources, differentiated industrial policy, and capital ratio optimization, while Qinghai Provincial Government will ratchet up its multifaceted and multi-pronged support for CDB.

Under the witness of President Zheng Zhijie and Governor Hao Peng, CDB Qinghai Branch and Qinghai Provincial Department of Transportation signed a strategic cooperation agreement. The two sides will establish a comprehensive partnership and a new integrated financial service system covering investment, lending, bonds, leasing, and securities, and carry out comprehensive cooperation in fields such as highways, waterways, and local railways in order to jointly support the all-round development of transportation in Qinghai.

The signing of these two agreements is a concrete measure of implementing the strategic goal of "building a national-level circular economy development pilot zone" put forward at the 12th Qinghai Provincial Party Congress. It will promote the rapid development in the Qaidam region, greatly improve the transportation conditions in Qinghai, and drive the economic and social development in Qinghai's Tibetan areas.

CDB recently introduced the CDB Guidance Opinion on Further Supporting the Economic and Social Development in Qinghai, clearly stating the support for Qinghai by stepping up support efforts and differentiating industrial policy, business collaboration policy, and examination and approval policy in order to comprehensively support the economic and social development in Qinghai.

As a major bank for longer-term investment and financing in Qinghai, CDB has continually stepped up its financing support for Qinghai. As of the end of June 2013, CDB has issued cumulative loans of 170.1 billion yuan in Qinghai with a loan balance of 95.5 billion yuan, and it is No.1 among all financial institutions in Qinghai in terms of the balance of non-personal longer-term lending, greatly supporting the development of major infrastructure, basic industries, and pillar industries projects and people's livelihood in Qinghai.