PBOC funds help lift CDB registered capital
Print Edition
THE People’s Bank of China has injected new capital into the China Development Bank, which provides medium and long-term financing to major national projects.
Wutongshu Investment Platform Co, a platform for investing foreign exchange reserves that was set up in November, invested US$48 billion into CDB, according a central bank statement released yesterday.
After the injection, CDB’s registered capital surged from 306.7 billion yuan (US$48 billion) to 421.2 billion yuan, and shareholder equity rose to 986.3 billion yuan.
Wutongshu holds 27.19 percent of CDB; the finance ministry 36.54 percent; Central Huijin Investment Ltd 34.68 percent; and the National Council for Social Security Fund 1.59 percent.
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