Thank you [Merrill/SSB representative抯 name]. Good morning/afternoon, ladies and gentlemen, my name is Chen Yuan, Governor of CDB. On behalf of CDB, thank you for taking time to attend our presentation. I will take you through today抯 presentation in this order Summary of CDB Key Credit Highlights Recent Developments Conclusion China Development Bank, formerly known as the State Development Bank, was established in 1994 as a statutory institution pursuant to a special State Council decree. We are 100% government owned and operate under the direct supervision of the State Council CDB is the
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