As well as financing vast infrastructure projects on the Chinese mainland, China Development Banksupports the country’s big national champions as they venture further afield, writes Henny Sender.
It has lent $30bn to China National Petroleum Corpfor its offshore energy projects and when mining group Chinalco was attempting to lift its stake in Rio Tinto, the bank made $20bn available to finance the purchase.
China’s telecoms equipment maker Huawei has a $30bn line of credit with more money on tap. So, when Saudi Telecomteamed up with Maxis Communications, a Malaysian telecoms company, to buy a stake in an Indonesian telecoms operator, CDB lent $400m to finance contracts from Huawei.
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