China Development Bank to Offer 100 Billion Yuan for Hunan's Development

Vice Governor Zhang Jianfei (front L) signs the memorandum on behalf of the Hunan Provincial People's Government.

　　China Development Bank will provide over 100 billion yuan to finance Hunan's social and economic development, according to a memorandum on enhancing strategic cooperation between the Hunan Provincial People's Government and the China Development Bank and other cooperation agreements signed at a high-level joint meeting on the afternoon of December 24 in Changsha.

　　Governor of Hunan Province Du Jiahao and Chairman of China Development Bank Hu Huaibang attended the meeting and witnessed the signing of the memorandum. Vice Governor Zhang Jianfei signed the memorandum on behalf of the Hunan Provincial People's Government.

　　According to the memorandum, the two parties will jointly work out a systematic financing plan to push for the establishment of an investment and financing mechanism as well as innovation in fund-raising mode, aiming at a win-win advancement.

　　The two sides also concluded several agreements on accelerating shantytown renovation and promoting water supply and control via public-private partnership (PPP) schemes.

　　 　　Translator: Liu Fen