On the morning of July 21, Changzhou Municipal People’s Government and China Development Bank (CDB) Jiangsu Branch signed a Memorandum of Agreement (“MOA”) on Development Financing Cooperation. Zhou Qingyu, vice president of CDB, and Qi Jiabin, secretary of the CPC Changzhou Municipal Committee, attended the signing ceremony. Mayor Chen Jinhu accompanied the inspection.

The CDB started large-scale cooperation with Changzhou in 2003, since which it has given great support to Changzhou in shantytown renovation and development of rail transit, water conservancy, SMEs and livelihood. In particular, CDB innovated market-oriented financing models and provided 2 billion yuan in credit support for the first phase of Changzhou’s Yangtze River Protection Project. At present, it is actively cooperating with Xinbei District Government in the overall plan and subsequent financing for the second phase of the project.

During their stay in Changzhou, Zhou Qingyu and his entourage inspected Changzhou’s construction of the Yangtze River Protection Project. Zhou said that our efforts to protect the Yangtze River will benefit not only this generation, but many more to come. This year, CDB will focus on supporting the project. It is hoped that through cooperation between the two sides, the beautiful vision of the Yangtze River where the land is green and the water runs clear will be realized sooner.

According to the MOA, the two sides will establish a top-level cooperation mechanism, of which the Changzhou Municipal Government will fully demonstrate its organization and coordination capabilities, while the CDB Jiangsu Branch will give full play to its development financing programs to support Changzhou’s construction deployment. The two sides will carry out cooperation in project planning, financing, innovation, risk prevention and control, etc.

Feng Yu, chairman of China Development Bank Financial Leasing Co., Ltd., Wang Weidong, president of CDB Jiangsu Branch, and city leaders Zhou Bin, Fang Guoqiang and Liang Yibo attended the event.

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