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ICBC Named Best CSR Financial Institution

The China Banking Association lately announced the list of organizations and individuals that made extraordinary contributions in fulfilling social responsibilities in 2017. ICBC won the “Best CSR Financial Institution Award”, for its remarkable contribution to sustainable socioeconomic development and excellent image as a corporate citizen. Meanwhile, three employees from the Bank’s Xinjiang, Qinghai and Sichuan branch won the “Best CSR Management Award”; and three sub-branches in Gansu, Sichuan and Fujian won the “Best Outlet for Special CSR Contribution Award”.

According to an ICBC official, the Bank has always been valuing the virtuous cycle of sustainable corporate growth and social responsibility, and firmly guarded the bottom line of risk prevention and security defense lines. In serving the real economy and supply-side structural reform, the Bank has been pursuing the maximization of comprehensive economic, environmental and social value, playing an important role in contributing to the sustainable development of the national economy, social progress and public welfare.

As to practicing green finance, ICBC has actively put the concepts of “green development” and “green finance” into practice, and boosted the green development of the economy and the society through green-oriented adjustment of the credit structure. In 2017, it successfully issued the first “Belt & Road” green bonds, leading domestic banks in terms of total size of green bonds undertaken. Besides, it launched the “ICBC ESG Green Index” based on the green ratings of 180 companies listed on the Shanghai Stock Exchange, being the first to do so among its domestic peers.

As for the development of inclusive finance, ICBC established the Inclusive Finance Department in 2017, and actively fulfilled its responsibility as a major state-owned bank in supporting small and micro enterprises (“SMEs”), “agriculture, rural areas and farmers” and “innovation and entrepreneurship”. Now, the Bank has seen the setup of inclusive finance departments at all its tier-one branches, extensively established microfinance centers in prefecture-level cities and counties where SMEs are centered, built a micro credit experts team, promoted intensive operations and division of work by expertise, and realized “one-stop” processing of microfinance business, notably enhancing its credit approval efficiency and risk control level. Moreover, it has made efforts to address weaknesses in financial services for “agriculture, rural areas and farmers”, and explored new financing models to benefit farmers. In 2017, it granted loans of RMB17.2 billion for the building of a new countryside.

In terms of targeted poverty alleviation, ICBC aimed at the service needs of featured industries and people’s livelihood-related projects in poor areas, and continuously stepped up financial support and poverty alleviation efforts. Furthermore, it adhered to poverty alleviation combining education, health, finance and industry, and helped the poor improve production and living conditions, thus playing its part as a major state-owned bank in the poverty alleviation campaign. By the end of 2017, the Bank recorded a balance of loans related to poverty alleviation totaling RMB127 billion, representing a year-on-year increase of RMB34 billion.

As for the protection of consumers’ rights and interests, ICBC was honored by the then CBRC as an “advanced entity in the campaign of ‘financial education to thousands of families’ in 2017”, and won the “best achievement award for promoting financial education in the Chinese banking industry in 2017”. “ICBC e-Security”, an external fraud risk information system developed independently by the Bank, identified and intercepted over 63,000 telecom frauds in 2017, and helped customers avoid financial losses of around RMB1.7 billion.

In terms of participation in public service activities, ICBC vigorously organized and participated in various activities for public good by centering on such themes as caring for the disabled, environmental protection, donation for education, and promotion and popularization of science. Moreover, it supported and encouraged its employees to contribute to the society in various forms, with total donations of RMB77.92 million in 2017.