On September 23, China Development Bank (CDB) Limited Corporation announced details of leadership appointments made by the central government, according to a report in the China Business News.

Chen Yuan is appointed Party Secretary at CDB Limited Corporation. Jiang Chaoliang and Yao Zhongmin are appointed Deputy Party Secretaries. The company said the appointments represent a major step towards CDB's goal of commercialization.

A reorganization plan approved by the State Council called for CDB Limited Corporation to be set up within six months, but delays in making senior appointments meant this had to be postponed.

Sixty-three year old Chen Yuan has been President of CDB since March 1998; Fifty-one year old Jiang Chaoliang has held the posts of Party Secretary and Chairman of the Board at China Bank of Communications since May 2004.

It is expected that the State Council will announce the appointment of the president of CDB Limited Corporation in due course.

CDB Limited Corporation will carry out commercialization and share holding reforms before applying for a stock exchange listing at an appropriate time.

For more details, please read the complete story in Chinese:

(http://www.china-cbn.com/s/n/000002/20080924/000000100274.shtml)

(China.org.cn by Fan Junmei September 24, 2008)