Annual Reports 2019-07-31 00:00:00 CSR Report 2018 Jul

Total Page:16

File Type:pdf, Size:1020Kb

Annual Reports 2019-07-31 00:00:00 CSR Report 2018 Jul 2018 Annual Report H Share Stock Code : 03968 Preference Share Stock Code : 04614 We are here Just for you Z CV China Merchants Bank Contents 1 Annual Report 2018 Contents 2 Important Notice 3 Definitions 3 Significant Risk Warning 4 Chairman’s Statement 7 President’s Statement 12 I Company Information 16 II Summary of Accounting Data and Financial Indicators 19 III Report of the Board of Directors 19 3.1 Analysis of Overall Operation 19 3.2 Analysis of Income Statement 26 3.3 Analysis of Balance Sheet 30 3.4 Analysis of Loan Quality 37 3.5 Analysis of Capital Adequacy Ratio 40 3.6 Results of Operating Segments 41 3.7 Other Financial Disclosures under the Regulatory Requirements 41 3.8 Implementation of Business Development Strategies 43 3.9 Changes in External Environment and Corresponding Measures 50 3.10 Business Operation 66 3.11 Risk Management 72 3.12 Profit Appropriation 74 3.13 Requirements of the Environmental, Social and Governance Reporting Guide 74 3.14 Compliance with Relevant Laws and Regulations 74 3.15 Management Contracts 74 3.16 Permitted Indemnity Provision 75 IV Important Events 83 V Changes in Shares and Information on Shareholders 95 VI Directors, Supervisors, Senior Management, Employees and Organisational Structure 110 VII Corporate Governance 128 VIII Report of the Board of Supervisors 129 IX Financial Statements 2 China Merchants Bank Important Notice Annual Report 2018 Important Notice 1. The Board of Directors, the Board of Supervisors, Directors, Supervisors and senior management of the Company confirm that the contents in this annual report are true, accurate, and complete and have no false representations, misleading statements or material omissions, and they will individually and collectively accept legal responsibility for such contents. 2. The 40th meeting of the Tenth Session of the Board of Directors of the Company was held at its Shekou Training Center on 22 March 2019.The meeting was presided by Li Jianhong, Chairman of the Board of Directors. 16 out of 16 eligible Directors attended the meeting in person. 8 Supervisors of the Company were present at the meeting. The convening of the meeting complied with the relevant provisions of the “Company Law of the People’s Republic of China” and the “Articles of Association of China Merchants Bank Co., Ltd.”. 3. Deloitte Touche Tohmatsu Certified Public Accountants LLP and Deloitte Touche Tohmatsu (both being auditors of the Company) have separately reviewed the 2018 annual financial report prepared in accordance with the PRC Generally Accepted Accounting Principles and International Accounting Standards, and issued standard auditing reports with unqualified opinions. 4. Unless otherwise stated, all monetary sums stated in this annual report are expressed in RMB. 5. Li Jianhong, Chairman of the Company, Tian Huiyu, President and Chief Executive Officer, Li Hao, First Executive Vice President and Chief Financial Officer, and Li Li, the person in charge of the Finance and Accounting Department, hereby make representations in respect of the truthfulness, accuracy and completeness of the financial statements in this annual report. 6. Proposal of profit appropriation: it was proposed that 10% of the audited net profit of the Company for 2018 of RMB75.232 billion, equivalent to RMB7.523 billion, will be allocated to the statutory surplus reserve, while 1.5% of the total amount of the risk assets, equivalent to RMB6.028 billion, will be appropriated to the general reserve. Based on the total share capital of A Shares and H Shares on the record date for implementation of the profit appropriation, the Company will declare a cash dividend of RMB0.94 (tax included) for every share to all shareholders of the Company whose names appear on the register, payable in Renminbi for holders of A Shares and in Hong Kong Dollars for holders of H Shares. The actual profit appropriations amount in HKD would be calculated based on the average benchmark rate for RMB to HKD published by the People’s Bank of China for the previous week (including the day of the general meeting) before the date of the general meeting. The retained profits will be carried forward to the next year. In 2018, the Company did not transfer any capital reserve into share capital. The above proposal of profit appropriation is subject to consideration and approval at the 2018 Annual General Meeting of the Company. 7. We have included in this report certain forward-looking statements with respect to the financial position, operating results and business development of the Group. We use words such as “will”, “may”, “expect”, “try”, “strive”, “plan”, “anticipate”, “aim at”, and similar expressions to indicate forward-looking statements. These statements are based on current plans, estimates and projections. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we give no assurance that these expectations will turn into reality or prove to be correct. Therefore they should not be deemed as the Group’s commitments. Investors should not place undue reliance on such statements and should pay attention to investment risks. You are cautioned that such forward-looking statements are related to future events or future financial position, business, or other performances of the Group, and are subject to a number of uncertainties which may cause substantial differences from those in the actual results. China Merchants Bank Definitions / Significant Risk Warning 3 Annual Report 2018 Definitions The Company, the Bank, CMB or China Merchants Bank: CMB International Capital or CMBIC: China Merchants Bank Co., Ltd. CMB International Capital Holdings Corporation Limited The Group: China Merchants Fund or CMFM: China Merchants Bank Co., Ltd. and its subsidiaries China Merchants Fund Management Co., Ltd. CBIRC: CIGNA & CMB Life Insurance: China Banking and Insurance Regulatory Commission CIGNA & CMB Life Insurance Co., Ltd. CSRC: CM Securities: China Securities Regulatory Commission China Merchants Securities Co., Ltd. Hong Kong Stock Exchange or SEHK: Deloitte Touche Tohmatsu Certified Public The Stock Exchange of Hong Kong Limited Accountants LLP: Deloitte Touche Tohmatsu Certified Public Accountants LLP Hong Kong Listing Rules: (Special General Partnership) The Rules Governing the Listing of Securities on the SEHK SFO: CMB Wing Lung Bank: Securities and Futures Ordinance CMB Wing Lung Bank Limited (Chapter 571 of the Laws of Hong Kong) CMB Wing Lung Group: Model Code: CMB Wing Lung Bank and its subsidiaries Model Code for Securities Transactions by Directors of CMB Financial Leasing or CMBFL: Listed Issuers of Hong Kong Stock Exchange CMB Financial Leasing Co., Ltd. Significant Risk Warning The Company has disclosed herein the major risks involved in its operations and the proposed risk management measures. Please refer to Chapter III for the details in relation to risk management. 4 China Merchants Bank Chairman’s Statement Annual Report 2018 Chairman’s Statement The year 2018 marked the 40th anniversary of China’s reform and opening up. CMB was a brainchild of the reform and opening-up policy and has emerged strong in the historical development trend. Amid the changes and challenges in the internal and external business environment, CMB has maintained its strategic resolve, laid solid foundation and achieved outstanding results with its excellent business performance in regaining its past glory. Both the customer base and profits reached a new level. As at the end of 2018, the number of retail customers of CMB reached 125 million. The total number of monthly active users (MAU) of CMB APP and CMB Life APP exceeded 81 million and the number of corporate customers exceeded 1.8 million. With the expansion of customer base, CMB continued to build a customer service ecosystem, enhanced customer experience, and realised “double-digit growth” in net operating income and net profit, with net profit exceeding RMB80 billion. The average return on equity (ROAE) attributable to ordinary shareholders of the Bank continued to increase, while assets and liabilities maintained a steady growth. At the same time, CMB actively optimised the customer structure and asset structure, strengthened risk management, and continued to realise the decrease in both non-performing loan ratio and balance of non-performing loans. The innovation-driven development strategy was further promoted. In 2018, the Board of Directors decided to increase the allocation to our new Financial Technology Innovation Project Fund from “1% of the pre-tax profit of the previous year” to “1% of the operating income of the previous year”, and enhanced the efforts in promoting the strategic plan for “building the best commercial bank in China with innovation-driven development, leading retail banking and distinguished features”. Adhering to the mindset of “error tolerance and win-win”, CMB promoted business agility by means of technology agility and quickened its pace of innovation. CMB established a technology-empowered Fintech innovation incubation platform, put in place an independent teamwork operation system and supported various innovation projects. It also drove forward staff composition change, and increased the talent bench in technology and data science, thereby making various breakthroughs in infrastructure and capacity building of Fintech such as artificial intelligence, big data, blockchain and cloud computing. The atmosphere of innovation in CMB became more zealous; the efficiency of innovation continued to increase; the layout of scenarios and ecology was further enriched; the perception of the technological innovation frontier became more acute. We actively fulfilled social responsibilities and created values for various sectors of the society. In 2018, PB ratio of A Shares and H Shares of CMB continued to rank first among the major listed banks in mainland China, and continued to create value for shareholders and investors through steady growth in profits and dividends. At the same time, CMB fully supported people’s needs for a better life and actively supported the national strategic emerging industries and the real economy.
Recommended publications
  • 中国区cma持证者名单 截止至2021年9月1日
    中国区CMA持证者名单 截止至2021年9月1日 Yixu Cao, CMA,CSCA,CPA,ACCA,CIA 2019 492 Wai Cheung Chan, CMA, CSCA 2020 622 Xiaolin Chen, CMA, CSCA 2021 785 Liang Feng, CMA, CSCA 2021 845 Shing Tak Fung, CMA, CSCA, CPA 2020 621 Yukun Hsu, CMA, CSCA 2020 676 Shengmin Jiang, CMA, CSCA 2021 794 Yiu Man Li, CMA, CSCA 2020 640 Huikang Lin, CMA, CSCA 2017 7 Jing Lin, CMA, CSCA 2018 415 Quanhui Liu, CMA, CSCA, CPA, CIA 2021 855 Ping Qian, CMA, CSCA 2018 396 Xiaolei Qiu, CMA, CSCA, CPA, CFP, CIA, CFA 2017 96 Yufei Shan, CMA, CSCA, CPA, CFE 2020 726 Ming Han Tsai, CMA, CSCA 2018 428 Lin Wang, CMA, CSCA 2017 22 Chunling Yang, CMA, CSCA 2020 648 Xiaolong Zhang, CMA, CSCA 2020 697 Yi Zhang, CMA, CSCA 2020 678 Qing Zhu, CMA, CSCA 2017 41 Copyright © 2021 by Institute of Management Accountants, Inc. 中国区CMA持证者名单 截止至2021年9月1日 Siha A, CMA 2020 81134 Bei Ai, CMA 2020 84918 Danlu Ai, CMA 2021 94445 Fengting Ai, CMA 2019 75078 Huaqin Ai, CMA 2019 67498 Jie Ai, CMA 2021 94013 Jinmei Ai, CMA 2020 79690 Qingqing Ai, CMA 2019 67514 Weiran Ai, CMA 2021 99010 Xia Ai, CMA 2021 97218 Xiaowei Ai, CMA, CIA 2019 75739 Yizhan Ai, CMA 2021 92785 Zi Ai, CMA 2021 93990 Guanfei An, CMA 2021 99952 Haifeng An, CMA 2021 92781 Haixia An, CMA 2016 51078 Haiying An, CMA 2021 98016 Jie An, CMA 2012 38197 Jujie An, CMA 2018 58081 Jun An, CMA 2019 70068 Juntong An, CMA 2021 94474 Kewei An, CMA 2021 93137 Lanying An, CMA, CPA 2021 90699 Copyright © 2021 by Institute of Management Accountants, Inc.
    [Show full text]
  • Announcement Report for the First Quarter of 2021 Of
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. ANNOUNCEMENT REPORT FOR THE FIRST QUARTER OF 2021 OF CHINA CITIC BANK CORPORATION LIMITED This announcement is made by CITIC Limited (the “Company”) pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). The Company notes the announcement (the “CITIC Bank Announcement”) of today’s date made by China CITIC Bank Corporation Limited (“CITIC Bank”), a principal subsidiary of the Company, in relation to the unaudited consolidated results of CITIC Bank and its subsidiaries for the first quarter ended 31 March 2021. The CITIC Bank Announcement is available on the website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk and is set out at the end of this announcement. By Order of the Board CITIC Limited Zhu Hexin Chairman Hong Kong, 29 April 2021 As at the date of this announcement, the executive directors of the Company are Mr Zhu Hexin (Chairman), Mr Xi Guohua and Ms Li Qingping; the non-executive directors of the Company are Mr Song Kangle, Mr Liu Zhuyu, Mr Peng Yanxiang, Ms Yu Yang, Mr Liu Zhongyuan and Mr Yang Xiaoping; and the independent non-executive directors of the Company are Mr Francis Siu Wai Keung, Dr Xu Jinwu, Mr Anthony Francis Neoh, Mr Shohei Harada and Mr Gregory Lynn Curl.
    [Show full text]
  • Khmer Civilization in Isan Khemita Visudharomn School of Architecture, Assumption University Bangkok, Thailand
    AU J.T. 8(4): 178-184 (Apr. 2005) Khmer Civilization in Isan Khemita Visudharomn School of Architecture, Assumption University Bangkok, Thailand Abstract Follow the footsteps of Khmer civilization from Angkor Wat to the center of cultural heritage in northeastern Thailand, Phimai, Phanom Rung and Mueang Tam. This paper is both an introduction and guide to Khmer temples in Isan. The first part begins with historical details tracing the Angkorean from the 8th to 12th century, and introduces a background to the religious traditions of the Khmer, which both inspired and governed the concept and execution of all their art and architecture. The second part is an emphasis on architecture and decorative art, which appear in Khmer temples. In its heyday the main concentration of Khmer temples extended far west to the border and associated with an area of the middle Mekong River in the southern part of northeastern Thailand. Keywords: cultural heritage, Phimai, Phanom Rung, Mueang Tam, the Angkorean, religious traditions, architecture and decorative art 1. Introduction The other sources of information on this period are Chinese accounts and references, in The name “Isan” refers to the these to tributary states such as Funan and northeastern part of Thailand .It covers an area Chenla. of one third of the Kingdom. Isan, is also th th known as the Khorat Plateau. The Phetchabun 2.1 Angkorean (8 - 12 century) Rage separates Isan from the Central Region while the Dongrek Mountains in the south The art and architecture of the Khmer has separate Thailand from Cambodia. The Mun been classified into periods, by French art and Chi Rivers drain the majority of the historians.
    [Show full text]
  • 中國中車股份有限公司 Crrc Corporation Limited
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 中 國 中 車 股 份 有 限 公 司 CRRC CORPORATION LIMITED (a joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1766) US$600,000,000 Zero Coupon Convertible Bonds due 2021 Stock code: 5613 2018 INTERIM RESULTS ANNOUNCEMENT The board of directors of CRRC Corporation Limited (the “Company”) is pleased to announce the unaudited results of the Company and its subsidiaries for the six months ended 30 June 2018. This announcement, containing the main text of the 2018 interim report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) in relation to information to accompany preliminary announcements of interim results. The 2018 interim report of the Company and its printed version will be published and delivered to the H shareholders of the Company and available for view on the websites of the Stock Exchange at http://www.hkex.com.hk and of the Company at http://www.crrcgc.cc on or before 30 September 2018. By order of the Board CRRC Corporation Limited Liu Hualong Chairman Beijing, the PRC 24 August 2018 As at the date of this announcement, the executive directors of the Company are Mr.
    [Show full text]
  • Annual Report 2019 Mobility
    (a joint stock limited company incorporated in the People’s Republic of China with limited liability) Stock Code: 1766 Annual Report Annual Report 2019 Mobility 2019 for Future Connection Important 1 The Board and the Supervisory Committee of the Company and its Directors, Supervisors and Senior Management warrant that there are no false representations, misleading statements contained in or material omissions from this annual report and they will assume joint and several legal liabilities for the truthfulness, accuracy and completeness of the contents disclosed herein. 2 This report has been considered and approved at the seventeenth meeting of the second session of the Board of the Company. All Directors attended the Board meeting. 3 Deloitte Touche Tohmatsu CPA LLP has issued standard unqualified audit report for the Company’s financial statements prepared under the China Accounting Standards for Business Enterprises in accordance with PRC Auditing Standards. 4 Liu Hualong, the Chairman of the Company, Li Zheng, the Chief Financial Officer and Wang Jian, the head of the Accounting Department (person in charge of accounting affairs) warrant the truthfulness, accuracy and completeness of the financial statements in this annual report. 5 Statement for the risks involved in the forward-looking statements: this report contains forward-looking statements that involve future plans and development strategies which do not constitute a substantive commitment by the Company to investors. Investors should be aware of the investment risks. 6 The Company has proposed to distribute a cash dividend of RMB0.15 (tax inclusive) per share to all Shareholders based on the total share capital of the Company of 28,698,864,088 shares as at 31 December 2019.
    [Show full text]
  • Download Article (PDF)
    International Conference on Remote Sensing, Environment and Transportation Engineering (RSETE 2013) The Monitoring Method Application for Vegetation + Dynamic Changes Based on TM and ETM Images Sheng Zhan Jingqin MU The Department of Mathematics and Information Science The Department of Computer Science Tangshan Teacher’s College Tangshan Teacher’s College Tangshan, China Tangshan, China [email protected] [email protected] Abstract—the paper studies the method application to estimate vegetation pixel by using normalized difference vegetation index II. THE PROCESS OF THE VEGETATION INFORMATION and the threshold parameter of the near infrared. It is applied EXTRACTION for the experiment of the vegetation extraction in Tangshan city Since the 1960s, scientists have simulated and extracted all by using TM and ETM+ images. The graph of vegetation information and the graph of vegetation dynamic change were kinds of biological and physical data. A large number of generated according to images in three different periods. It can studies have adopted the vegetation index. When computing be concluded that the vegetation coverage area with park has the vegetation index, the inverse relationship between red and been increased primarily in Tangshan city and the city scale has near infrared reflectance of healthy and green vegetation has experienced peripheral expansion in the past 10 years. This been used. The research [3] has shown us that making different method turns out to be correct and effective, as the result is combination of the red light and near infrared band of remote consistent with the actual development of Tangshan city. sensing data turns to be more effective, which may contain + ninety percent of vegetation information.
    [Show full text]
  • Vanke - a (000002 CH) BUY (Initiation) Steady Sales Growth Target Price RMB31.68 Up/Downside +16.8% Current Price RMB27.12 SUMMARY
    10 Jun 2019 CMB International Securities | Equity Research | Company Update Vanke - A (000002 CH) BUY (Initiation) Steady sales growth Target Price RMB31.68 Up/downside +16.8% Current Price RMB27.12 SUMMARY. We initiate coverage with a BUY recommendation on Vanke – A share. Vanke is a pioneer in China property market, in terms of leasing apartment, prefabricated construction and etc. We set TP as RMB31.68, which is equivalent to China Property Sector past five years average forward P/E of 9.0x. Upside potential is 16.8%. Share placement strengthened balance sheet. Vanke underwent shares Samson Man, CFA placement and completed in Apr 2019. The Company issued and sold 263mn (852) 3900 0853 [email protected] new H shares at price of HK$29.68 per share. The newly issued H shares represented 16.67% and 2.33% of the enlarged total issued H shares and total Chengyu Huang issued share capital, respectively. Net proceeds of this H shares placement was (852) 3761 8773 HK$7.78bn and used for debt repayment. New capital can flourish the balance [email protected] sheet although net gearing of Vanke was low at 30.9% as at Dec 2018. Stock Data Bottom line surged 25% in 1Q19. In 1Q19, revenue and net profit surged by Mkt Cap (RMB mn) 302,695 59.4% to RMB48.4bn and 25.2% to RMB1.12bn, respectively. The slower growth Avg 3 mths t/o (RMB mn) 1,584 in bottom line was due to the scale effect. Delivered GFA climbed 88.2% to 52w High/Low (RMB) 33.60/20.40 3.11mn sq m in 1Q19 but only represented 10.5% of our forecast full year Total Issued Shares (mn) 9.742(A) 1,578(H) delivered GFA.
    [Show full text]
  • 2020 Interim Report * Bank of Tianjin Co., Ltd
    (A joint stock company incorporated in the People's Republic of China with limited liability) (Stock code: 1578) 2020 Interim Report * Bank of Tianjin Co., Ltd. is not an authorised institution within the meaning of the Banking Ordinance (Chapter 155 of Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorised to carry on banking and/or deposit-taking business in Hong Kong. BANK OF TIANJIN CO., LTD. 1 INTERIM REPORT 2020 Contents Definitions 2 Company Profile 4 Summary of Accounting Data and Financial Indicators 6 Management Discussion and Analysis 10 Changes in Share Capital and Information on Shareholders 64 Directors, Supervisors, Senior Management and Employees 69 Important Events 76 Report on Review of Condensed Consolidated 82 Financial Statements Condensed Consolidated Statement of Profit or Loss and 83 Other Comprehensive Income Condensed Consolidated Statement of Financial Position 85 Condensed Consolidated Statement of Changes in Equity 87 Condensed Consolidated Statement of Cash Flows 88 Notes to the Condensed Consolidated Financial Statements 90 Unaudited Supplementary Financial Information 139 List of Branches 145 2 BANK OF TIANJIN CO., LTD. INTERIM REPORT 2020 Definitions In this interim report, unless the context otherwise requires, the following items shall have the meanings set out below: “Articles of Association” the articles of association of the Bank as may be amended, supplemented or otherwise modified from time to time “Bank”, “our Bank”, “we” or “us” Bank of Tianjin
    [Show full text]
  • Table of Codes for Each Court of Each Level
    Table of Codes for Each Court of Each Level Corresponding Type Chinese Court Region Court Name Administrative Name Code Code Area Supreme People’s Court 最高人民法院 最高法 Higher People's Court of 北京市高级人民 Beijing 京 110000 1 Beijing Municipality 法院 Municipality No. 1 Intermediate People's 北京市第一中级 京 01 2 Court of Beijing Municipality 人民法院 Shijingshan Shijingshan District People’s 北京市石景山区 京 0107 110107 District of Beijing 1 Court of Beijing Municipality 人民法院 Municipality Haidian District of Haidian District People’s 北京市海淀区人 京 0108 110108 Beijing 1 Court of Beijing Municipality 民法院 Municipality Mentougou Mentougou District People’s 北京市门头沟区 京 0109 110109 District of Beijing 1 Court of Beijing Municipality 人民法院 Municipality Changping Changping District People’s 北京市昌平区人 京 0114 110114 District of Beijing 1 Court of Beijing Municipality 民法院 Municipality Yanqing County People’s 延庆县人民法院 京 0229 110229 Yanqing County 1 Court No. 2 Intermediate People's 北京市第二中级 京 02 2 Court of Beijing Municipality 人民法院 Dongcheng Dongcheng District People’s 北京市东城区人 京 0101 110101 District of Beijing 1 Court of Beijing Municipality 民法院 Municipality Xicheng District Xicheng District People’s 北京市西城区人 京 0102 110102 of Beijing 1 Court of Beijing Municipality 民法院 Municipality Fengtai District of Fengtai District People’s 北京市丰台区人 京 0106 110106 Beijing 1 Court of Beijing Municipality 民法院 Municipality 1 Fangshan District Fangshan District People’s 北京市房山区人 京 0111 110111 of Beijing 1 Court of Beijing Municipality 民法院 Municipality Daxing District of Daxing District People’s 北京市大兴区人 京 0115
    [Show full text]
  • A New Date for the Phnom Da Images and Its Implications for Early Cambodia
    A New Date for the Phnom Da Images and Its Implications for Early Cambodia NANCY H. DOWLING SCHOLARS FAMILIAR WITH SOUTHEAST ASIAN ART HISTORY are well aware of a confusing chronology for early Cambodian sculpture. One reason for this situa­ tion is obvious. For nearly fifty years, Cambodian art history has been wed to the work of George Coedes. Praised as the dean of Southeast Asian history, he was a member of an elite group of French scholars who worked in Cambodia for decades before World War II. In 1944, he wrote Histoire ancienne des hats hindouses d'Extreme-Orient, in which he established a chronological framework for early Southeast Asian history based on an interplay of Chinese texts and indigenous inscriptions. Most Southeast Asian historians readily admit that "his book remains the basic source for early South East Asian history, and while much recent re­ search, based upon new inscriptional evidence or re-readings, modifies some of Coedes' specific conclusions, the structure remains his" (Brown 1996: 3). Such a singular dependency on Coedes had a stifling effect on Cambodian art history. When Jean Boisselier, carrying on the work of Philippe Stern and Gilberte de Coral-Remusat, made a comprehensive attempt to set in order Cambodian sculpture, the French art historian fitted the works of art into Coedes' ready­ made chronology. Unfortunately, this all happened as if it were preferable to adjust Cambodian sculpture to a preconceived notion of history rather than ques­ tioning the model. In this way, some basic mistakes have been made, and these seriously affect the chronology and interpretation of early Cambodian sculpture.
    [Show full text]
  • Equity Investment People's Republic of China: China Everbright Bank
    Extended Annual Review Report Reference Number: 30704 April 2009 Equity Investment People’s Republic of China: China Everbright Bank In accordance with ADB's public communications policy (PCP, 2005), this extended annual review report excludes information referred to in paragraph 126 of the PCP. CURRENCY EQUIVALENTS Currency Unit – yuan (CNY) At Appraisal At Project Completion 14 September 1996 13 December 2007 CNY1.00 = $0.1204 $0.1355 $1.00 = CNY8.3052 CNY7.3785 ABBREVIATIONS ADB – Asian Development Bank BOC – Bank of China CAGR – compound annual growth rate CAR – capital adequacy ratio CBRC – China Banking Regulatory Commission CCB – city commercial bank CEB – China Everbright Bank CEG – China Everbright Group CIB – China Investment Bank EROIC – economic return on invested capital FIRR – financial internal rate of return GDP – gross domestic product ICBC – Industrial and Commercial Bank of China IFC – International Finance Corporation IFRS – International Financial Reporting Standard IPO – initial public offering NAV – net asset value NPL – nonperforming loan PBOC – People’s Bank of China PRC – People’s Republic of China PSOD – Private Sector Operations Department RCC – rural credit cooperative ROIC – return on invested capital SME – small and medium-sized enterprises SOCB – state-owned commercial bank SOE – state-owned enterprise TA – technical assistance WACC – weighted average cost of capital NOTE In this report, "$" refers to US dollars Vice-President X. Zhao, Operations Group 1 Director General P. Erquiaga, Private Sector Operations Department (PSOD) Director R. van Zwieten, Capital Markets and Financial Sector Division, PSOD Team leader M. E. Paterno, Investment Specialist, PSOD Team members B. Huang, Young Professional, PSOD I. Chua, Investment Officer, PSOD CONTENTS Page EXECUTIVE SUMMARY i I.
    [Show full text]
  • Table of Contents Vol01
    TABLE OF CONTENTS VOL01 SESSION 1 COMPUTER SCIENCE AND INFORMATION TECHNOLOGY 1-M0176CN1060 EFFICIENT RESOURCE ALLOCATION IN COGNITIVE WIRELESS 1 MESH NETWORKS Song Lei,Zhao Cheng,Li Changzheng 2-M0177CN0534 APPLICATION OF APRIORI ALGORITHM IN OPEN EXPERIMENT 6 Li Mengshan,Liu Bingxiang,Wu Yan 3-M0178CN0958 BUILDING INTELLIGENT RESIDENTIAL DISTRICT BASED ON 10 INTERNET OF THINGS TECHNOLOGY Zhiqiang Wei, Ying Zhang, Dongning Jia 4-M0179CN0458 THE APPLICATION OF FIRE SUPERVISING MANAGEMENT 15 INFORMATION SYSTEM ON THE WIRELESS INTERNET YAO Zhiqiang,WANG Huijuan,WU Jianzheng 5-M0180CN0491 MEDIUM ACCESS CONTROLLER DESIGN FOR WIRELESS BODY 21 AREA NETWORK Jigang Shao,Hanjun Jiang,Chun Zhang,Zhihua Wang 6-M0181CN0563 A NEW TRACK CORRELATION ALGORITHM BASED ON STATISTICS 26 ZHANG Zhang,WANG Xue-bin,Yan Jun 7-M0182CN0741 THE STUDY ON THE UNIVERSITY SPORTS TEAMS IN INFORMATION 30 MANAGEMENT Li Yong,Yi Peng 8-M0183CN0958 GENERAL LAYERED HETEROGENEOUS MODEL OF PARALLEL 33 COMPUTATION Zhiqiang Wei, Wenjuan Shi, Yingying Liu, Jie Nie, Lin Gui 9-M0184CN0958 IMPLEMENTATION OF VISUALIZATION OF HORIZONTAL SLICE IN 38 THREE-DIMENSIONAL SEISMIC DATA VOLUME Xiaopeng Ji, Lin Mou, Zhiqiang Wei, Longbin Shen, Lin Gui 10-M0185CN0491 RFID SENSOR NETWORKS BASED ON PHARMACEUTICAL DRUGS 42 LOGISTICS, STORAGE, SECURITY RESEARCH YINQun,Zhangjianbo 11-M0186CN0659 ESTABLISHMENT OF THE PERFORMANCE APPRAISAL INDEX 46 SYSTEM OF SOFTWARE PROJECT PRESALES MANAGER Ren Yongchang,Xing Tao,Wang Li,Cai Wei 1 SESSION 2 COMPUTER SCIENCE AND INFORMATION TECHNOLOGY 12-M0187CN1599
    [Show full text]