China Devt Bank approved to issue 580 bln yuan bonds this yr

China Development Bank (CDB), one of the country's three policy banks, said the central bank has approved CDB's plan to issue 580 bln yuan of bonds this year.

The bonds will consist of 530 bln yuan worth of medium- to long-term bonds and 50 bln yuan of short-term notes.

Central Huijin, a government investment vehicle, agreed to inject 20 bln usd into CDB as part of a restructuring plan for the state-owned policy bank, the central bank said earlier this week.

The capital injection will help raise CDB's capital adequacy ratio and strengthen its financial muscle to ward off operational risks, the central bank said.

Huijin's investment is also expected to help accelerate CDB's commercialization.
(1 usd = 7.3 yuan )