The following news needs dedicated thread because it is so important and strategic.
Extract from the announcement today-20 April 2017 (Quarterly Report)
Quoted:
It appears that Hanlong and
China Development Bank (“CDB”), which is the mortgagee of the Sundance shares held by Hanlong, are close to resolving the ownership position of Sundance shares
with them being retained by CDB; and
Unquoted
https://en.wikipedia.org/wiki/China_Development_Bank
From Wikipedia, the free encyclopedia
The
China Development Bank (
CDB) (
simplified Chinese: 国家开发银行;
traditional Chinese: 國家開發銀行;
pinyin:
Guójiā Kāifā Yínháng) is a financial institution in the
People's Republic of China (PRC) led by a cabinet minister level Governor, under the direct jurisdiction of the State Council. As one of three policy banks of the PRC,
it is primarily responsible for raising funding for large infrastructure projects, including most of the funding for the
Three Gorges Dam and
Shanghai Pudong International Airport. Established by the Policy Banks Law of 1994, the bank is described as the engine that powers the national government’s economic development policies.
Debts issued by CDB owned by local banks are treated as risk free assets under the proposed People's Republic of China capital adequacy rules i.e. same treatment as PRC government bonds. The bank is the second-biggest bond issuer in China after the Ministry of Finance in 2009, accounting for about a quarter of the country’s yuan bonds, and the biggest foreign-currency lender
