The red carpet is invariably rolled out whenever delegations from China Development Bankland in developing countries to vet potential lending projects, especially when the bank’s chairman Chen Yuan leads the group.
That is because few banks in the world can match CDB’s ability to write big cheques. The Chinese group has lent tens of billions of dollars to projects from Angola and Brazil to Australia and Venezuela. It is why Mr Chen is treated like royalty when he shows up overseas.
As arguably the most important banker in China, Mr Chen is venerated at home. He and his bank have financed the construction of the most ambitious infrastructure the world has ever seen and almost every important project in China, including the Three Gorges Dam.
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