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CDB Plays New Role in Promoting Reform and Opening up Through Development Finance in the New Era

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Time:2018-12-24  Source:CDB

On December 24, the CPC Committee of CDB held a meeting in Beijing, which was chaired by Zhao Huan, CPC Secretary and Chairman of CDB. The participants studied the instructions of General Secretary Xi Jinping's speech at the conference celebrating the 40th anniversary of reform and opening up and shared what they have learned from the instructions. Zhao Huan stressed that CDB should bear in mind the spirit of reform and opening up, enhance its support for national strategies, and play a new role in promoting reform and opening up through development finance in the new era. The meeting was attended by Zheng Zhijie, DeputySecretary of the CPC Committee of CDB and President of CDB, Wang Yungui, Chief Compliance Officer, and other members of the CPC committee including Executive Vice Presidents Zhou Qingyu, Zhang Xuguang, Cai Dong, Ma Xin, and Liu Jin.

According to Zhao Huan, General Secretary Xi Jinping has announced in his speech in celebration of the 40th anniversary of reform and opening up that under the guidance of clear goals and requirements, China will, with confidence and determination, continue deepening reform and opening up in the new era. CDB should regard studying and implementing the instructions of General Secretary Xi Jinping’s speech as a major political task and gain a comprehensive understanding by integrating them into practice and with his other instructions. The CDB leadership should take the lead in the study of the instructions, while its party organizations should well organize the sessions among its CPC members to study the instructions so that they will put their mind and work under the guidance of the instructions and take initiative in advancing reform and opening up in the new era.

As stressed by Zhao Huan, CDB should improve its work by adhering to reform and innovation, two elements of its organizational DNA that are key to its development, so that CDB will achieve innovative, sustainable and high-quality development and grow into a world-class development finance institution. Currently, CDB should focus on solving the most urgent problems hindering its development by carrying out further reforms in innovative approaches.

As required by Zhao Huan, when advancing reform and opening up in the new era, CDB as a major financial institution that supports the CPC's governance of China, should stick up for the CPC Central Committee with Xi Jinping at its core, keep up with changes and development trends, and work hard to deliver exceptional performance. Following the guidelines of the CPC and the decisions and plans of the CPC Central Committee and the State Council, CDB should better position itself to promote China's coordinated economic, political, cultural, social, and ecological progress, as well as the implementation of the Four Comprehensives. With a clear development orientation, CDB should adhere to the basic principle of seeking progress while maintaining stability and at the same time focus on promoting high-quality development and the supply-side structural reform and on serving the real economy, containing financial risks, and deepening financial reforms. It should support national strategies by keeping up with financial development trends and making good use of financial resources, with a view to performing better in the areas of priority and those of weakness and promoting the deepening of reform and opening up in the new era.

Zheng Zhijie shared three points that he has learned from General Secretary Xi Jinping's instructions. First, the CPC's leadership is the most essential feature of China's reform and opening up and is indispensable to success. With this in mind, CDB can be more motivated to support the CPC's leadership over the financial sector and to stick up for the leadership of General Secretary Xi Jinping and the CPC Central Committee. Second, keeping a liberated and realistic mind is the soul of reform and opening up. To break the chains of conventional thinking is an arduous task. Over the past 40 years, the CPC has maintained a liberated and realistic mind by seeking the truth while being pragmatic, regarding practice as the only standard to justify the truth, and replacing old concepts with new ones. It has therefore liberated and reshaped people's mind and enabled historic breakthroughs in reform and opening up and great economic and social progress in China. Third, innovation is the lifeline of reform and opening up and the solution to all kinds of problems. The Chinese economy is facing a great many severe challenges, which can only be solved through innovation.

Zhou Qingyu, Zhang Xuguang, Cai Dong, Wang Yungui, Ma Xin, and Liu Jin also shared their insights gained from learning General Secretary Xi Jinping’s instructions.

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