CDB releases 3rd responsibility report; loans to SMEs top $7 bln in 2009

21:46, June 10, 2010      

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China Development Bank (CDB), a major Chinese bond issuer, said Thursday it extended 48.2 billion yuan (7.05 billion U.S. dollars) of loans to small- and medium-sized enterprises (SMEs) last year.

The bank also made 85.3 billion yuan of home loans to low- and middle-income families last year, according to its 2009 corporate social responsibility report released Thursday.

The lender continued to strengthen its financial support for farmers, low-income earners and SMEs while maintaining stable profit growth over the past year, the report said.

CBD President Chen Yuan said the bank will take on greater social responsibility in the future and strive to provide better services to its customers.

The responsibility report was CBD's third after joining the United Nations (UN) Global Compact in 2006.

The UN Global Compact is a policy initiative for businesses committed to aligning their operations and strategies with ten universally accepted principles. The principles relate to human rights, labor rights, environmental protection and anti-corruption.

Source: Xinhua


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