Established in 2001, China Development Financial (CDF) comprises four major and synergistic operating subsidiaries: China Life, KGI Bank, KGI Securities, and CDIB Capital Group.
- In September, 2017, CDF acquired a 25% stake in China Life, Taiwan’s No. 5 largest insurance group, to become its single largest shareholder. China Life is now an integral part of the group.
- CDIB transformed into CDIB Capital Group in March 2017, serving as the group’s platform for third party private equity and venture capital asset management.
- In January 2015, Cosmos Bank was reflagged as KGI Bank.
- CDIB transferred its corporate banking and financial market businesses to KGI Bank in May 2015.
- In September 2014, Cosmos Bank became a 100%-owned subsidiary through a share swap.
- To expand the scale of its securities business, CDF acquired KGI Securities and it became a 100%-owned subsidiary in January 2013.
- In June 2013, KGI Securities merged with Grand Cathay Securities, another subsidiary within CDF, and became CDF’s consolidated platform for investment banking, equity sales and trading, fixed income, and derivative products in Taiwan.
- In June 2001, a shareholders' meeting convened by China Development Industrial Bank (CDIB; former entity of CDIB Capital Group) approved a resolution to establish China Development Financial (CDF). Following regulatory approval in November 2001, CDF was formally incorporated and launched its IPO on the Taiwan Stock Exchange in December 2001.
- China Development Corporation was restructured as an industrial bank.
- CDIB Capital Group, formerly China Development Corporation and later China Development Industrial Bank, was established in 1959 through the collective efforts of the Economic Stabilization Committee of the Executive Yuan, the World Bank, and private capital as Taiwan’s first privately run financial institution focusing on direct investments.。