CDB Issuing Over RMB 300 Billion in Asset-based Security

Recently CDB successfully issued the 4th phase Kaiyuan asset-based security in 2017, totaling RMB 12 billion. By far, CDB has sold RMB 300 billion in asset-based security (ABS), maintaining its position as the largest ABS issuer in China.

This is an important action taken by CDB to implement the guidelines of the 19th CPC National Congress and to better serve the supply-side structural reform. The ABS will be preferentially used for supporting poverty relief, urban renewal, strategically emerging industries and new urbanization, synergistic development of Beijing Tianjin and Hebei, and the construction of the Yangtze River Economic Belt, further enhancing the capacity of development finance to serve the real economy. Facing in-depth transformation of the financial market, increasing bond yield and more difficult bond issuance in the primary market, the successful issuance of ABS proved the ability of development finance in stabilizing and promoting the sound development of a multi-level capital market.

According to statistics, CDB has issued 33 ABS products totaling RMB 304.5 billion since 2005, which makes it the top bank in China in terms of the amount and scale of ABS issuance. In recent years particularly, CDB has issued different products in support of national strategies to address poverty relief, urban renewal, railway construction, and synergistic development of Beijing, Tianjin and Hebei, channeling social funds into both key and less-developed areas of economic development to successfully relieve capital bottleneck, optimize resource allocation and serve the supply-side structural reform. Meanwhile, CDB has been widely recognized by the market for its strong performance in fulfilling its responsibility as a loan service institution, enhancing duration management and risk prevention, and ensuring zero default on assets and zero mistakes in management.

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