CMBC sticks to the concept of “serving people and paying close attention to people’s livelihood” in promoting responsible governance and implementation of duties in practice. As a result, social responsibility is internalized into daily management and enterprise culture of CMBC.
Fifteen-Year CMBC
China Minsheng Banking Co., Ltd. (or CMBC) is the first national joint-stock commercial bank with non-public enterprises as its shareholders. Meanwhile, it is a standard joint-stock financial company established in accordance with "Corporate Law" and "Law of Commercial Banks". CMBC has been adhering to the development approach of "forging ahead in unity, blazing new trails in a pioneering spirit, conducting talent cultivation, strict management, behavior regulation, being dedicated and law-abiding, attaching great importance to quality, improving efficiency, and maintaining sound and healthy development." It spares no efforts in enhancing the management level, actively carrying out institutional innovation, so as to realize low risks, fast growth, and high returns.
Fifteen-Year Innovation
CMBC has always adhered to being a featured and efficient bank over the past fifteen years. In 1996, as a testing ground for China's banking reform, the first national joint-stock bank initiated with private capital as the main part in China - China Minsheng Banking Corporation Limited - was founded. On December 19, 2000, CMBC A shares (600016) were listed in Shanghai Stock Exchange. On November 8, 2004, CMBC successfully issued subordinated bonds of RMB 5.8 billion through inter-bank bond market, becoming the first commercial bank that had successfully issued subordinated bonds through national inter-bank bond market. On October 26, 2005, CMBC succeeded in the reform of non-tradable shares, also the first among commercial banks in China. On November 26, 2009, CMBC successfully listed in HKE. As of December 31, 2010, CMBC had set up 30 branches in 30 cities of China, its institutions totaled 509, and ranked in forefront of joint-stock banks in asset quality and capital returns.
Fifteen-Year Governance
CMBC has always focused on improving corporate governance, strictly complied with related laws and regulations of China, accurately and timely disclosed information, and fully respected and protected the interests of stakeholders over the past fifteen years. Upon the establishment, CMBC set up a good framework of corporate governance, clarified the responsibilities of the general meeting of shareholders, the board of directors, the board of supervisors, personnel from the management layer, while employing international accounting firms for financial audit. During the listing of A shares, CMBC brought forth new ideas and employed outside directors. Upon the successful listing of A shares, it became the first listed company disclosing quarterly reports. It has formed a corporate governance mechanism with effective division of labor for the board of directors, board of supervisors, and senior managers that will assume their own responsibilities, mutual cooperation, and high efficiency, providing an important guarantee of the long-term and healthy development of the corporate.
Fifteen-Year Strategy
CMBC has always stuck to "running the bank in a good, down-to-earth, and wits-sharpening manner." In 2005, CMBC planned its business organizational structure reform and implemented centralized business management. In 2007, CMBC officially decided to carry out corporate business division reform in an all-round way. In 2009, CMBC board of directors amended its five-year development program and put forward a new strategic positioning: being the bank of private enterprises, small and micro-sized enterprises, and high-end clients. In 2010, CMBC continued its implementation of the new strategy for healthy business development, orderly promotion of innovation, and accelerated the change of growth mode.
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