OREANDA-NEWS. October 03, 2013. CDB-Cathay Fund Management Company Ltd ("CDB-Cathay"), a joint venture between China Development Bank Securities ("CDB Securities"), a wholly-owned subsidiary of China Development Bank (CDB), and Taiwan-based Cathay Securities Investment Trust ("CSIT"), was launched in Beijing.

Chen Yuan, vice chairman of the CPPCC National Committee; Zheng Lizhong, executive deputy director of the State Council Taiwan Affairs Office; Huang Zhixian, vice chairman of the Taiwan Democratic Self-Government League; Zheng Zhijie, president of CDB; Tsai Hung-tu, chairman of Taiwan-based Cathay Financial Holdings, and Chien Fu, chairman of Taiwan-based Cathay Charity Foundation, attended the inaugural ceremony.

It is understood that CDB-Cathay had a registered capital of 200 million yuan, with CDB Securities and CSIT contributing 66.7% and 33.3% respectively. As a connecting bridge and link between cross-Strait capital markets, CDB-Cathay will uphold the business philosophy of "Dedication, Responsibility, Prudence and Innovation", focus on the development in the fixed income field, bring into full play the advanced management experience and market resource advantages of its shareholders, build its unique core competitiveness, continually deepen and widen the scope of its products and services, provide lasting and stable returns for its investors, and actively practice and explore cross-border financial model innovation so as to continually advance cross-Strait capital market cooperation to higher levels.

At the ceremony, CDB-Cathay separately signed strategic cooperation agreements with Agricultural Bank of China, Bank of Communications, China Everbright Bank, China Minsheng Bank, China Galaxy Securities, Taiwan Business Association and other organizations for sharing of resources and complementary advantages in order to seek long-term common development.

Senior managers of CDB-Cathay said the company will actively explore cross-border financial model innovation, continually serve wealth management needs in mainland China, Hong Kong and Taiwan, actively advance into overseas investment markets with a global vision in the new situation of economic globalization, and provide investors at home and abroad with a variety of products and services.

After the inaugural ceremony, CDB Securities and Eastern Finance magazine co-sponsored a Seminar on Cross-Strait Capital Market Cooperation. Cross-Strait experts and scholars conducted exchanges and discussions on RMB internationalization and the development of cross-Strait capital market cooperation, interest rate liberalization and development opportunities for cross-Strait capital market development, cross-Strait bond market cooperation and innovation, and other topics. Yuan Li, vice president of CDB; Wu Chung-shu, president of Taiwan-based Chung-Hua Institution for Economic Research; Wang Luolin, former executive vice president of the Chinese Academy of Social Sciences; financial expert Zeng Kanglin; economist Hua Sheng; and Chou Wu-tien, chairman of the Taipei Foundation of Finance, attended the seminar and delivered speeches.

It has been learned that CDB has always attached great importance to cooperation with Taiwan. As of the end of June 2013, CDB has issued 80 billion yuan of loans to Taiwan-funded projects. As one of the leading banks in the mainland's support for the development of Taiwan-funded businesses, CDB has made positive contributions to the effective easing of the financing problems for Taiwan-funded businesses in the mainland.