OREANDA-NEWS. December 31, 2013. China Development Bank (CDB) held an enlarged party committee central team group study session in Beijing.

Hu Huaibang, secretary of the party committee and chairman of the board, conveyed the spirit of the Central Economic Work Conference and the Central Urbanization Work Conference, and made arrangements for CDB to implement the spirit of the conferences. Zheng Zhijie, deputy secretary of the party committee and president of CDB, chaired the meeting, and all members of the party committee attended the meeting.

Hu Huaibang pointed out: The Central Economic Work Conference has scientifically analyzed the current economic situation at home and abroad, summed up the economic work in 2013, and made comprehensive arrangements for the economic and social development goals, macroeconomic policy direction, and work priorities for next year.

The Central Urbanization Work Conference is the first urbanization meeting held in New China, and it has made important strategic and overall arrangements for pushing forward urbanization in China in the immediate future. Important meetings held after the Third Plenary Session of the 18th CPC Central Committee, both conferences will serve as important guidance for pushing forward the comprehensive deepening of reforms, managing our work next year, and serving the needs of new urbanization development. Staff of the whole bank must deeply comprehend the central spirit and align our thinking and actions with the central judgment on the situation and work arrangements so as to ensure that the central spirit will be implemented at CDB.

Hu Huaibang pointed out: The comprehensive deepening of reforms has provided a rare historical opportunity for CDB's reform and development. Continued steady development of the Chinese economy will create favorable conditions for the sustainable healthy development of CDB's business. The promotion of industrial restructuring and upgrading, the acceleration of ecological civilization building, and the implementation of a new round of opening to the outside world will open up new room for CDB to serve the needs of economic and social development. In particular, the steady progress in new urbanization will consolidate the business foundation for CDB to give play to its role as a leading bank for longer-term investment and financing.

Hu Huaibang pointed out: CDB must comprehensively implement the spirit of the 18th CPC National Congress, the Second Plenary Session of the 18th CPC Central Committee, the Third Plenary Session of the 18th CPC Central Committee, and the Central Economic Work Conference, closely focus on the theme of reform and development, promote reform with management and promote development with reform, center on improving and developing quality and efficiency, follow the principles of serving the strategy, reform and innovation, consolidating the foundation, and sustainable development, give priority to the support of new urbanization, industrial transformation and upgrading, and international cooperation, give play to the role of development financing, continually enhance market influence, competitiveness, and sustainable development capability, help push forward the transformation of the economic development mode, and better serve the needs of "five in one" construction so as to push forward the simultaneous development of the four modernizations.

Hu Huaibang said: CDB must adjust its business structure by offering selective products and services so as to focus on serving national strategic priorities. In domestic business, limited resources should be employed in areas where CDB serves the national strategy with development financing, with priorities given to new urbanization, affordable housing projects, shantytown revamping, infrastructure building, strategic emergent industries, energy conservation and environmental protection, pension and health services, poverty alleviation and development, and so on. CDB should make a "negative list" and exit from resource-based industries with high pollution and high energy consumption and industries with excess production capacity and other sectors where risks are already surfacing or there are potential high risks. In international cooperation, CDB must closely focus on the two strategic goals of national security and development, and take the new Silk Road economic zone and the 21st century maritime Silk Road as an opportunity to develop and promote international cooperation projects.

Hu Huaibang stressed: Pushing forward urbanization is not just about fostering new economic growth points; it is also a major measure for avoiding the middle-income trap. The central government has fully affirmed the role played by CDB in serving the needs of urbanization and had high hopes for CDB to continue to play its role. CDB must give play to its backbone role and vigorously support new urbanization building. Under the guidance of the general planning for national urbanization, it will continue to support local governments in developing and enhancing relevant special planning and develop corresponding systematic financing planning in a timely manner so as to ensure funding support.

CDB will cooperate with relevant government ministries and local governments in expanding the urban investment and financing model and make good use of bridging loans and other policy financial tools in order to jointly push forward the establishment of a prudent and lasting urbanization investment and financing mechanism. CDB will give priority to infrastructure and affordable housing, vigorously support regions with clear functional positioning, strong capacity for resources and environment, and controllable government debt risks, especially urbanization in central and western China. In the future CDB will devote over 60% of its new lending every year to new urbanization and make full use of integrated financial means to guide the participation from social capital in order to promote joint financing support for new urbanization.