On the invitation of the Chinese Economist Society (CES), ADFIAP, represented by its Secretary General, Octavio B. Peralta, spoke before over 200 economists, scholars, professors and students and highlighted the role and achievements of development finance institutions (DFIs) in the region, in general, and that of its member, the China Development Bank (CDB), in particular.
Mr. Peralta presented the history of and rationale for development banks, their mandate and tasks as well as their role in the financial system. It will be recalled that during the recent global crisis, development banks were given a critical role of governments in providing financial resources to cash-strapped small and medium businesses and other productive sectors to boost and stimulate their economies.
Regarding CDB, the Bank, in the last decade alone, has provided 1.6 trillion Yuan in loans to more than 4,000 projects involving infrastructure, communications, transportation and basic industries. In terms of its social responsibility activities, the Bank, among others, provided housing facilities and renovated the mud-straw cottages in Jilin, helped 820,000 people to have access to safe drinking water in rural Changzhi in Shanxi province, and developed a new microfinance model in Xunhua in Qinghai province.
The CES 2011 annual conference was held on June 18-19, 2011 in Jiuhua Convention Center in Changping District in Beijing with the theme, “Ten Years after WTO Accession: China and the World Economy” and featured plenaries, expert sessions, and roundtables on various topics, including financial economics and markets, economic development and many others.
The Chinese Economist Society http://www.china-ces.org/ is a non-profit academic organization that bridges academic exchanges in economics and related areas between the U.S. and China. The event was hosted by the University of International Business and Economics (UIBE) http://www.uibe.edu.cn/upload/uibe_eng/Home.php. UIBE, which is celebrating its 60th year anniversary, is one of the first universities in China to have initiated academic exchanges with over 100 universities and institutes from more than 30 countries and regions around the world.
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