Developmental Finance Framework

Author: Joint Research Group of China Development Bank / Renmin University of China
Publisher:
Publish Date: 2006-03-01
Features:
"After engaging with the China Development Bank, I changed my original perspective."
"The China Development Bank is developing a well-designed operational mechanism to promote collaboration among multiple enterprises and governments in large-scale projects, ensuring loan repayment through strong ethical standards and legal pressure."
"Through super-marginal joint lending, the China Development Bank effectively overcomes the externalities of currency." — Professor Ronald McKinnon, Stanford University
"Through the leverage of development finance, China can address the challenges of building a 'moderately prosperous society in all respects' and achieve sustainable economic growth."
"China remains in the transition period from a planned economy to a market economy. During this period, development finance can be used to gradually build a framework that allows the market mechanism to operate more effectively." — former President of the Asian Development Bank, Tadao Chino
As a developing country in the process of economic transformation, China still faces many constraints in market systems and infrastructure. In recent years, the China Development Bank, grounded in China's national conditions, has combined government objectives with market mechanisms, forging a unique "development finance" path with Chinese characteristics. In 2004, the China Development Bank and Renmin University of China established a joint research group. After extensive research and discussion, they compiled this book. The book is divided into four parts, starting from the realistic environment of China's reform and development and its long-term financing difficulties, it systematically introduces the successful practice of development finance in China. Within the framework of financial development theory, it explores the theoretical connotations of development finance. Finally, through national comparisons, it discusses the development methods of development finance. The book provides a systematic analysis, comparison, and summary of the theory and practice of China's development finance, centered on the China Development Bank.