New Silk Road Finance Awards 2017 South Asia: Best Chinese bank for BRI
China Construction Bank
The Belt and Road Initiative is a political project as much as it is an economic or a financial one – but it has also become China’s big globalization play, a concerted attempt to redraw the rules of global trade in its own image and to its own benefit. There were many worthy candidates for this award, including China Development Bank and Bank of China.
But no one deserves this prize more than China Construction Bank (CCB), which is putting together a Rmb100 billion ($15 billion) fund that will invest directly in BRI projects.
From 2015, when the Beijing-based lender first began to focus on the Belt and Road Initiative, to the end of March 2017, CCB channelled financial support to 50 large projects worth $9.8