Granting of banking licence to CHINA DEVELOPMENT BANK CORPORATION

The Hong Kong Monetary Authority announced today (Thursday) that the Monetary Authority has granted a banking licence to CHINA DEVELOPMENT BANK CORPORATION (CDB) under the Banking Ordinance. The granting of this banking licence took effect on 25 June 2009.

CDB is a bank incorporated in Mainland China and has maintained a local representative office in Hong Kong since 1999. It is the fifth largest commercial bank in terms of total assets on the Mainland.

After the granting of a banking licence to CDB, the number of licensed banks in Hong Kong has increased to 145.

For further enquiries, please contact:
Thomas Chan, Communications Chief, at 2878 1480 or
Peggy Lo, Manager (Communications), at 2878 1687

Hong Kong Monetary Authority
25 June 2009