HSH Nordbank and China Development Bank reaffirm intention to expand their business relations

Hamburg/Kiel, January 7, 2011 - As announced in December of last year, HSH Nordbank and state-owned China Development Bank (CDB) have reaffirmed their intention to expand their business relationship.

During the course of the state visit of China`s Vice Prime Minister Li Keqiang and in the presence of China`s Vice Minister of Commerce, Gao Hucheng, as well as the Director General in the Federal Ministry of Economics and Technology, Karl Brauner, the banks today signed in Berlin a declaration of intent regarding further collaboration between the two institutions.

Collaboration is expected to focus mainly on HSH Nordbank’s areas of activity with an international orientation as the maritime industry, renewable energies and the aviation sector. At the centre will be joint financings and syndications in those areas. Details of the collaboration will be worked out over the next few weeks.

“By collaborating with the China Development Bank we can enhance the operational strengths of HSH Nordbank and thus take an important step for the future of the Bank,” said Constantin von Oesterreich, Management Board member of HSH Nordbank. Von Oesterreich explicitly stressed that the collaboration between the banks would be an operational one.

Back in December of last year, HSH Nordbank had already signed a facility agreement for USD 500 million with China Development Bank.

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