Exhibit H
Sidley Austin Brown & WoodLLP
39/F Two International Finance Centre
8 Finance Street
Central, Hong Kong
People’s Republic of China
September 8, 2004
China Development Bank
29 Fuchengmenwai Street
Xicheng District
Beijing 100037
People’s Republic of China
Ladies and Gentlemen:
We hereby consent to the use of our name under the caption “Validity of the Debt Securities” in the Registration Statement, as amended, being filed by China Development Bank with the United States Securities and Exchange Commission in connection with the registration of US$500,000,000 aggregate principal amount of its debt securities under the United States Securities Act of 1933, as amended (the “Securities Act”). We further consent to the filing of this letter as an exhibit to such Registration Statement, as amended. In giving the foregoing consent and by the use of our name under the caption “Validity of the Debt Securities” in the Registration Statement, as amended, however, we do not admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations promulgated thereunder.
Very truly yours,
/s/ Sidley Austin Brown & WoodLLP
Ex-30
