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The Future of National Development Banks$
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Stephany Griffith-Jones and José Antonio Ocampo

Print publication date: 2018

Print ISBN-13: 9780198827948

Published to Oxford Scholarship Online: November 2018

DOI: 10.1093/oso/9780198827948.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 16 June 2021

China Development Bank

China Development Bank

Born Bankrupt, Born Shaper

(p.39) 2 China Development Bank
The Future of National Development Banks

Qiyuan Xu

Oxford University Press

Established in 1994, the China Development Bank was soon on the verge of bankruptcy, but then it miraculously recovered in early 2000s. Now with total assets of USD 1.85 trillion, CDB ranks as one of the largest and most dynamic national development banks in the world. This chapter explores in detail the CDB’s role in light of China’s transition economy. CDB is a key contributor to the establishment of an adequate local government credit system and a facilitator for infrastructure construction. Therefore, CDB’s role goes beyond financing infrastructure. It is above all a shaper of the government credit system, and one of the starting points for understanding China’s economy.

Keywords:   China Development Bank, transition economy, government credit system, tangible infrastructure, intangible infrastructure

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