OREANDA-NEWS. August 15, 2013. China Development Bank (CDB) signed a Cooperation Agreement on Supporting the Building of the Capital's Food Safety System with Development Financing with Beijing Er Shang Group in Beijing today, offering financing of 30 billion yuan to support Er Shang Group in building the capital's food safety industrial chain.

Li Shixiang, member of the standing committee of the Beijing municipal party committee and executive vice mayor of Beijing; Zheng Zhijie, president of CDB; and Sun Jie, party committee secretary and chairman of the board of Beijing Er Shang Group, attended the signing ceremony.

The signing of the agreement is an important measure for the two sides to further strengthen comprehensive strategic cooperation, give play to their respective advantages, safeguard food safety in the capital, and build the capital's food safety industrial chain. Under the agreement, the two sides will focus on food raw material seed breeding bases, food processing and logistics construction, and marine food industry, and carry out comprehensive strategic cooperation in the three areas of "modern agriculture and animal husbandry, property and logistics, and open ocean fishing".

CDB will give play to its development financing advantages and make full use of integrated service means in investment, lending, bonds, leasing, and securities to provide long-term stable financial support and a full range of financial services for the development of Beijing Er Shang Group so as to jointly build the capital's food safety industrial chain.

As a major bank for longer-term investment and financing in China, CDB has in recent years continually ratcheted up its support for "three rural" cause in the capital. As of the end of July 2013, CDB has issued total new countryside loans of 2,349 million yuan in Beijing with a lending balance of 36,473 million yuan, greatly supporting the rural infrastructure building, agricultural industrialization, and agriculture-related SME development in Beijing.