Retailing, Franchising, and Consumerism Business Intelligence in China

China Construction Bank Releases CSR Report

China Construction Bank, one of the four state-owned commercial banks in China, has just released its corporate social responsibility report.

This is the first CSR report in the Chinese state-owned banking industry and the second one in banking industry of China, as Shanghai Pudong Development Bank had previously released their own CSR report.

The 50-page CSR report introduces CCB's practice and exploration in fulfilling its corporate social responsibilities since it was listed, including measures it has taken in fulfilling its responsibilities for the nation, its clients, shareholders, employees and in supporting community public welfare causes.

In "A Letter from the President" at the beginning of the report, CCB organizes its social responsibilities into six areas: to maintain sustainable corporate development and to maximize value for its shareholders; to lend support to the macro-economic policy measures of the nation and to facilitate its social and economic development; to ensure continuous innovations in its products and services and to deliver the best services to its customers; to focus on the balance between business growth and social concern and help to improve livelihood of fellow countrymen; to render respect for staff interests and be fully committed to the building of business harmony; to show concern for vulnerable groups in the society and be actively involved in social welfare.

CCB says its interest is closely related to China's national interest, and it devoted two-thirds of bank loans last year to improve the country's infrastructure, basic industry and backbone industries. For client services, CCB has reduced 96% of the customers' waiting time at its business halls to less than 10 minutes. In improving people's lives, CCB has been concerned with the financial services of low-income families and it has launched a customized service for medium and small sized companies.

In the public welfare field, the bank says it shows its care to the weaker social groups by offering financial aid to underprivileged students, offering donations to Project Hope and disaster stricken areas, and by sponsoring Special Olympics.

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