Aligning State and Market China's Approach to Development Finance

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Table of Contents
Foreword Paul Keating 1
Zhou Xiaochuan 3
Andrew Sheng 5
Preface 7
Chapter 1 World-class Development Finance 11
Stepping Up to the Task 13
Tackling Credit Reform Head On 17
China's First Bank Restructuring 22
Building Markets and Rewriting Rules 25
Rising to the Top in Development Finance 28
In Theory
Development Finance, World-Class Performance 33
In the Press
Becoming a World-Class Bank 41
Chapter 2 Bank-Government Partnership: A New Norm 47
Breaking the Bank-Government Deadlock 49
The Yunnan Pilot 54
Banks and Government: Building Markets Together 58
A Broad Channel Between State and Market 62
In Theory
Development Finance as a Driver for Sustainable Development 66
Stronger Markets for a More Harmonious Society 84
In the Press
Development Finance: Paving the Way for Stronger Markets 92
Chapter 3 The Wuhu Model: Transforming China's Cities 97
Setting the Stage: Wuhu 99
Bundling Out" the Bottlenecks 103
Urbanizing 800 Million 106
Tianjin: Reinventing a City 109
Ongoing Growth 111
The HBS Case Study 115
In Theory
Financing Urban Development 118
Development Finance and Urbanization 125
In Practice
From Farm to Factory: Tracing the Journey of Urbanization 134
Chapter 4 Strategic Planning for Smart Development 139
Case Study: The Liaoning Economic Corridor 142
Planning for Industrial Development 146
Planning for Rural Development 149
Planning for Social Development 151
Planning for Global Development 154
In Theory
The Role of Strategic Planning in Promoting Social and Economic Development 157
In Practice
Suzhou Industrial Park 173
Chapter 5 The Market Approach: In Pursuit of National Strategies 177
Building China's Bond Market 179
Paving the Way for Urban Development Finance 184
Regional Development: Western China 186
Regional Development: Northeast China 190
FuU-service Finance: A Bold New Endeavor 193
In Theory
The CDB Approach to Growth: Aligning with National Development Strategy 198
The Changing Role of Development Finance and Policy-based Lenders 211
In the Press
Unleashing the Power of Finance to Develop Western China 225
In Focus
CDB: 10 Firsts in China's Bond Market 230
Chapter 6 State Bank: Rebalancing the Chinese Economy 233
Indigenous Innovation: The Backbone of Domestic Industry 236
Going Green: Laying the Foundation for Scientific Development 240
Cap and Cultivate: Restructuring for Sustainable Growth 244
The Transformative Potential of Emerging Industries 246
Cultural Industry: Putting the Final Touches to Rebalancing 249
In Theory
Development Finance as a Seedbed for Scientific and Technological Innovation 253
A New Model of Economic Growth: The Role of Development Finance 261
Chapter 7 Financial Innovation Paving the Way for Rural Development 271
High Hopes from Policy Directive "Number 1 Document" 274
Ji County Model: Micro-lending to Farmers 277
Following Through: Boosting Our Commitment to Rural Development 282
In Theory
Building a New Countryside Through Development Finance 287
In the Press
Creating New Ways to Finance Agriculture 295
Chapter 8 Inclusive Finance: Driving Social Development 305
Community Finance: Putting People First 307
A Roof over Every Head: "Count CDB In!" 312
Student Loans: Ensuring Equity in Education 316
Small Loans, Big Impact 321
In Theory
Building Markets, Building a Better China 328
How Development Finance Can Strengthen Social Foundations 340
In Practice
Emergency Lending: Financial Help for Those Most in Need 348
Chapter 9 International Cooperation: A Model for Mutual Benefit 353
"Going Global Sure Beats Going Rural" 356
In Every Crisis, an Opportunity 359
Multilateral Cooperation: Making Everyone a Winner 362
"Don't Look at Where a Company Comes from; Look at Where It's Going." 367
Embracing Africa: Cementing Sino-African Friendship 372
In Theory
Going the Distance: In Pursuit of Robust, Long-term Financial Cooperation 377
Development Financing: Linking China with the World 382
In the Press
Interview: CDB Chairman Chen Yuan 394
CCTV Interview: Inter-BRICS Financial Cooperation 402
Chapter 10 Development Finance in Ascendance 407
Development Finance: At Every Juncture 409
From Weiming Lake to the Charles River 413
The Ascendancy of Development Finance 417
In Theory
Assessing the Global Economic Crisis 423
Chinese Economic Development in the Wake of the Global Economic Crisis 437
In Focus
China Council for the Promotion of Development Finance 466
Acknowledgements 469"
Aligning State and Market China's Approach to Development Finance