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Annual Report 2018 ABOUT CCB

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Annual Report 2018 ABOUT CCB Vision To become a first-class medium to large bank in Hong Kong Core Values Integrity Impartiality Prudence Mission Creation Provide better service to our customers Create higher value to our shareholders Build up broader career path for our associates Assume full responsibilities as a corporate citizen 28/F, CCB Tower, 3 Connaught Road Central Central, Hong Kong Tel: 3918 6939 www.asia.ccb.com CONTENTS About Us 02 About CCB 03 Our History 04 To Customers and Shareholders 06 Board of Directors and Executive Management 08 Subsidiary, Joint Venture and Associated Companies 15 Corporate Social Responsibility 16 Awards and Honors 22 Report of the Board of Directors 24 Independent Auditor’s Report 27 Consolidated Statement of Profit or Loss 34 Consolidated Statement of Comprehensive Income 35 Consolidated Statement of Financial Position 36 Consolidated Statement of Changes in Equity 38 Consolidated Statement of Cash Flows 40 Notes to the Consolidated Financial Statements 41 Unaudited Supplementary Financial Information 176 Service Network 205 This annual report is printed on environmentally friendly paper. ABOUT US China Construction Bank (Asia) China Construction Bank (Asia) Corporation Limited (“CCB (Asia)”) is the comprehensive and integrated commercial banking platform of China Construction Bank Corporation (“CCB”) in Hong Kong. Currently, CCB (Asia) has over 50 service outlets in Hong Kong and offers a wide array of banking products and services to customers, including consumer banking services, commercial banking services, corporate banking services, private banking services, treasury business and cross-border financial services, etc. For consumer banking, in addition to providing conventional transactional, foreign exchange and cash services, CCB (Asia) also offers deposits, loans (including personal loans, credit cards loan, residential mortgages and auto-financing), securities agency and investments (mutual fund and bond trading), consolidated banking, insurance (including life insurance, general insurance and insurance broker), MPF referral services, RMB services, credit card, electronic banking services (online and mobile banking), cross border services and safe deposit boxes services. For commercial banking, CCB (Asia) provides a diverse range of financial products and services to local mid-caps and medium- to-large corporations, both non blue-chip listed as well as private companies, including bilateral commercial loans, syndicated loans, project finance, property development loans, trade finance, commercial mortgage financing, machinery loans, FX products, as well as corporate wealth management, cash management and deposit services. CCB (Asia) also capitalizes on the extensive branch network of CCB to create synergy in businesses such as RMB cross-border collaboration services including SBLC loans, LC discount, RMB deposit, remittance and foreign exchange. For corporate banking, CCB (Asia) provides a full range of banking services including bilateral loans, syndicated loans, club deals, merger and acquisition financings, trade finance, bond financings, treasury products, cash management, deposit services and related retail products to blue-chip companies and large local corporations. Besides, CCB (Asia) also offers comprehensive financing solutions to large state-owned enterprises and Chinese conglomerates, including the provision of credit enhancement service in supporting domestic companies in Mainland China to issue its offshore corporate bond. Fully supported by CCB, CCB (Asia) launches synergistic businesses such as entrusted payment, export account receivable risk participation, discount against draft avalisation and more. Other business developments of corporate banking include the aircraft finance business and the emerging business in the Shenzhen Qianhai Financial District and the Shanghai Pilot Free Trade Zone. For treasury business, CCB (Asia) manages the bank’s bond portfolio, issues bank debt instruments, carries out money market lending and borrowing, bond repurchase, foreign exchange, interest rate and derivative products proprietary trading and market making. Designated by The Hong Kong Monetary Authority, CCB (Asia) is Primary Liquidity Provider (PLP) for offshore RMB market in Hong Kong. In addition, CCB (Asia) provides bank clients with treasury products sales and trading services including foreign exchange, interest rates, derivatives and securities, as well as bond capital markets services such as debt instruments issuance and underwriting. Comprehensive and integrated trading and financing solutions are offered to clients. CCB (Asia) has established extensive treasury business relationships with banks, corporate and institutional clients. Flexible and diversified investment, trading, financing and hedging products are also provided to local and overseas clients. 02 China Construction Bank (Asia) Corporation Limited / Annual Report 2018 ABOUT CCB China Construction Bank Corporation China Construction Bank Corporation, headquartered in Beijing, is a leading joint stock large-scale commercial bank in China. Its predecessor, the People’s Construction Bank of China, was established in October 1954. It was listed on Hong Kong Stock Exchange in October 2005 (stock code: 939) and the Shanghai Stock Exchange in September 2007 (stock code: 601939). At the end of 2018, the Bank’s market capitalisation reached US$207,179 million, ranking fifth among all listed banks in the world. The Group ranks second among global banks in terms of Tier 1 capital. The Bank provides customers with comprehensive financial services, such as personal banking, corporate banking, investment and wealth management. With 14,977 banking outlets and 345,971 staff members, the Bank serves hundreds of millions of personal and corporate customers. The bank has commercial banking branches and subsidiaries in 29 countries and regions with nearly 200 commercial banking entities at various levels, and subsidiaries in different industries and sectors, including fund management, financial leasing, trust, insurance, futures, pension and investment banking. Adhering to the “customer-centric, market-oriented” business philosophy, the Bank is committed to developing itself into a bank with top value creation capability. The Bank strives to achieve the balance between short-term and long-term benefits, and between business goals and social responsibilities, so as to maximise the value for customers, shareholders, society and its associates. Vision Build a world class banking group with top value creation capability. Mission Provide better services to our customers, create greater value to our shareholders, build up a broader career platform for our associates, and assume full responsibilities as a corporate citizen. Core Values Integrity, Impartiality, Prudence, and Creation China Construction Bank (Asia) Corporation Limited / Annual Report 2018 03 OUR HISTORY 1912 1945 CCB (Asia) originated from World War II ended and Hong Kong was liberated. The Bank of Canton which Former staff rebuilt The Bank of Canton and its banking was established in Hong business was quickly back on track. It soon became the Kong in 1912 by Chinese largest Chinese-owned remittance and foreign exchange businessmen, including Li bank in Hong Kong in the post-war era. Yuk-tong and Look Pong- shan. It was the first Chinese-owned bank in Hong Kong and Look Pong- shan was the first chairman. The headquarter was located at 6 Des Voeux Road Central, Hong Kong, which is now the flagship branch of CCB (Asia). The Bank of Canton’s head office was Celebration of the 35th Anniversary of The Bank of Canton (1947) located at 6 Des Voeux Road Central 1936 1966 Shanghai Fire & Marine Insurance Co. Ltd. became a Due to Great Depression, operations of the bank were subsidiary of The Bank of Canton and was renamed suspended in 1935. Through re-capitalization by Soong Hongkong & Shanghai Insurance Company Limited later. Tse-ven, the bank reopened on November 23 and was In 2001, Hongkong & Shanghai Insurance Company chaired by Soong Tse-ven. Limited merged with QBE Insurance (Hong Kong) Ltd, a wholly owned subsidiary of QBE Group and was The bank expanded its business to Macau by setting up renamed QBE Hongkong & Shanghai Insurance Limited, a subsidiary Bank of Canton (Macau), which was the first which is an associated company of CCB (Asia) today. Chinese-owned financial institution registered in Macau. 1988 The Bank of Canton officially announced its cooperation with Security Pacific National Bank in 1971. In 1988, The The Bank of Canton reopened in 1936. Soong Tse-ven (forth Bank of Canton was officially from right) served as the Chairman of the board renamed Security Pacific Asian Bank. 1941 Hong Kong was occupied by Japan in World War II. The The inauguration of Security bank’s business was suspended again. Pacific Asian Bank 04 China Construction Bank (Asia) Corporation Limited / Annual Report 2018 OUR HISTORY 1993 2013 Security Pacific Corporation merged with Bank of Business integration America Corporation. Security Pacific Asian Bank of China Construction became a wholly-owned subsidiary of Bank of America Bank (Asia) and China Corporation and was renamed Bank of America (Asia) in Construction Bank 1993. In 2001, the Chinese name of Bank of America Hong Kong Branch. (Asia) was changed to align with English. CCB Hong Kong Business 2006 Integration Ceremony The three buildings of CCB in Hong Kong were officially China Construction Bank acquired a 100% interest in inaugurated. CCB
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