China Development Bank (CDB) released its Social Responsibility Report 2011, the fifth since it joined the UN Global Compact in 2006. The report features CDB’s prominent role in financing infrastructure, energy, socially and environmentally beneficial initiatives, all of which face funding constraints, and its active engagement in advancing China’s sustainable development cause.
Chen Yuan, CDB’s Chairman, addressed a release conference by highlighting CDB’s commitment to its citizenship reflected by its increased support to common good initiatives, real sector growth and financial inclusion.
In 2011, CDB’s new lending to social housing was Rmb109.5B, representing a market share of 60%. CDB’s Rmb10.4B student loans benefited 5.61M disadvantaged students. Its SME program lent Rmb1.55T to support 1.8M small businesses and sole proprietors, helping create 4.6M jobs. Loans for energy-saving, emission reduction and environmental protection initiatives amounted to Rmb228.1B.