OREANDA-NEWS. September 13, 2013. Guangdong Provincial Government and China Development Bank (CDB) held a high-level joint meeting to discuss development financing supporting the transformation and development in Guangdong and sign a Memorandum of Development Financing Cooperation. 

 Zhu Xiaodan, governor of Guangdong; Chen Yunxian and Xu Ruisheng, vice governors of Guangdong; Hu Huaibang, CDB's party committee secretary and chairman of the board; and Li Jiping, CDB's vice president, attended the meeting.

Under the Memorandum, CDB will, on the basis of deepening bilateral planning and cooperation, provide Guangdong with comprehensive financial services including lending, investment, bonds, leasing, and securities, guide social funds in supporting the urban infrastructure, integrated transportation network, modern industrial system, shantytown revamping, production-city integration, and other key areas in Guangdong, and offer all-round support for Guangdong to upgrade its economy and speed up reaching the overall goals of becoming a vanguard in developing socialism with Chinese characteristics, a pioneer in deepening reform and opening up, and a pilot zone for exploring scientific development, and leading in completing the building of a well-off society in an all-round way and in basically achieving socialist modernization.

During the 12th Five-Year Plan period, CDB has issued total various loans of about 230 billion yuan to Guangdong, and has in particular supported the highway network, provincial-national cooperative railway and intercity rail transit, industrial transformation and upgrading, the "going abroad" campaign of enterprise, and welfare housing construction in the province. CDB has become an important financial force in Guangdong and has played an important role in promoting the economic and social development in the province.