IN BRIEF (Page 14)

CDB goes commercial

China Development Bank Corp, a policy bank, has officially transformed itself into a commercial organization. As one of the three major policy banks, CDB's move was a major step in China's financial reform.

With a registered capital of 300 billion yuan, the new corporation inherited all the assets, liabilities and business of the original bank, which was set up in 1994 to organize financing for infrastructure projects and major industrial development.