The Chinese government has approved a plan to restructure state-owned China Development Bank (CDB) into a commercial bank, the Shanghai Securities News reported. An unnamed source with China’s central bank told the newspaper that CDB will be transformed into a joint-stock lender within six months. The restructuring will include bringing in strategic investors and a possible stock market listing. The bank will focus on medium- and long-term lending and investment banking, but will also be able to step into retail banking ...