OREANDA-NEWS. August 16, 2013. China Development Bank (CDB) and the Jiangsu Provincial People's Government signed a Memorandum of Understanding on Supporting Economic Structural Transformation and Upgrading in Jiangsu and Modernization Building in Southern Jiangsu in Nanjing recently. CDB Chairman Hu Huaibang and Jiangsu Governor Li Xueyong attended the signing ceremony. CDB Vice President Wang Yongsheng and Jiangsu Executive Vice Governor Li Yunfeng signed the MOU respectively on behalf of the two sides.

Under the MOU, CDB will focus on Jiangsu's 12th Five-Year Development Plan, industrial transformation and upgrading plan, urban-rural integration development plan, and other important plans, and provide related, financing plans and integrated financial services in investment, lending, bonds, leasing, and securities in order to support industrial transformation and upgrading, coordinated urban-rural integration development, continued improvement of the people's livelihood, and ecological civilization building in Jiangsu.

At the same time, the two sides will follow the principle of implementing pilot schemes and exemplary demonstrations as well as making overall plans and taking all factors into consideration; make efforts to push forward economic modernization, urban and rural modernization, social modernization, and ecological civilization building in southern Jiangsu; give priority support to shantytown revamping, urban infrastructure upgrading, regional transportation network, and other key construction projects in southern Jiangsu; and help build southern Jiangsu into a pioneering zone of independent innovation, a zone of concentrated modern industries, a pioneering zone of the integration of urban and rural development, a leading zone of opening up and cooperation, and a zone of affluence and civilization suitable for human inhabitation.

As a major bank of longer-term investment and financing in China, CDB serves the national strategy with market means and has been supporting the economic and social development in Jiangsu over the years. As of the end of June 2013, CDB has issued total loans of over 670 billion yuan in Jiangsu, supporting a number of key construction projects including the Beijing-Shanghai High-Speed Railway, Yanjiang Highway, Tianwan Nuclear Power, Nanjing Metro, Nanjing Youth Olympic Games, and the comprehensive improvement of Taihu Lake's water environment; supporting 25,000 medium, small and micro enterprises, farmers' households, and individual business owners; and creating 54,000 jobs. CDB has also issued foreign exchange loans of over 15 billion USD to support the "going abroad" campaign of Jiangsu-based enterprises, greatly promoting the economic and social development in Jiangsu.