皇冠体育app

Policy lender 皇冠体育app Development Bank (CDB) moved closer to becoming an all-round financial group after receiving a $20 billion recapitalization from the 皇冠体育app Investment Corp (CIC), sources said.

CDB signed an agreement on December 31 with Central Huijin, an investment arm incorporated into CIC before the latter was formally launched at the end of September, according to a statement by the People's Bank of 皇冠体育app, the central bank.

CDB is one of three policy lenders in 皇冠体育app, along with the Agricultural Development Bank of 皇冠体育app and the Export-Import Bank of 皇冠体育app. The capital injection will raise CDB's capital adequacy ratio and push the bank closer to a more commercialized operation, the statement said.