DOCSLIB.ORG

ANNUAL REPORT This Annual Report Is Printed on Environmental Paper

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
ANNUAL REPORT This Annual Report Is Printed on Environmental Paper CHINA MINSHENG BANKING CORP., LTD. (a joint stock limited company incorporated in the People’s Republic of China with limited liability) STOCK CODE Add. : No. 2, Fuxingmennei Avenue, Xicheng District, 2014 2014 Beijing, China Tel. : (+86-10) 58560666 ANNUAL REPORT ANNUAL Fax. : (+86-10) 58560690 REPORT Zip Code: 100031 Website: www.cmbc.com.cn This annual report is printed on environmental paper. WorldReginfo - 97e94664-5096-4eee-8ccf-71d19e68d8e0 Important Notice The Board of Directors, the Supervisory Board, the Directors, Supervisors and senior management of the Company confirm that there are no misstatements, misleading representations or material omissions in this report, and assume joint and several liability for the truthfulness, accuracy and completeness of this report. The annual report was considered and approved on 30 March 2015 at the 23rd meeting of the sixth session of the Board of the Company. 17 Directors were entitled to attend the meeting. 11 Directors attended the meeting in person (including Liu Yonghao (Vice Chairman), Guo Guangchang, Ba Shusong and Wong Lihua attended by teleconference) and one Director was represented by proxy. Director Wang Junhui entrusted Chairman Hong Qi, in writing, to exercise his voting rights at the meeting. Director You Lantian was absent from the meeting. According to the profit distribution plan for the second half of 2014 passed by the Board, on the basis of the total share capital of the Company as at the record date for the purpose of profit distribution, a cash dividend of RMB1.1 (before tax) for every 10 shares will be distributed to shareholders of the Company. Such profit distribution plan shall be subject to the approval of the shareholders’ general meeting of the Company. For the purpose of this annual report, China Minsheng Banking Corp., Ltd. shall be referred to as the “Company”, the “Bank”, “China Minsheng Bank” or “Minsheng Bank”, whereas China Minsheng Banking Corp., Ltd. and its subsidiaries together shall be referred to as the “Group”. The financial data and indicators contained in this annual report are prepared according to the rules of IFRS. Unless otherwise specified, all amounts are the consolidated data of the Group and denominated in RMB. KPMG Huazhen Certified Public Accountants (Special General Partnership) and KPMG Certified Public Accountants, auditors of the Company, have audited the financial reports of 2014 prepared in accordance with the CAS and the IFRS respectively, and issued standard and unqualified auditors’ reports. Board of Directors China Minsheng Banking Corp., Ltd. Hong Qi (Chairman, Acting President), Bai Dan (Senior Management responsible for accounting) confirm the truthfulness, accuracy and completeness of the financial reports included in this annual report. WorldReginfo - 97e94664-5096-4eee-8ccf-71d19e68d8e0 Contents Important Notice Corporate Governance 132 Definitions 2 Shareholders’ General Meeting 182 Material Risk Warning 5 Internal Control 183 Message from the Chairman 6 Report of the Board of Directors 189 Strategic Positioning and Targets of Report of the Supervisory Board 195 the Company 13 Major Events 200 Annual Awards 14 Corporate Social Responsibility 204 Bank Profile 16 Financial Reports 209 Summary of Financial Data and Index of Documents for Inspection 414 Indicators 18 Organisation Chart 415 Management Discussion and Analysis 20 List of Entities 416 Changes in Share Capital and Statistics of Correspondent Banks 420 Information on Shareholders 92 Directors, Supervisors, Senior Management and Employees 106 WorldReginfo - 97e94664-5096-4eee-8ccf-71d19e68d8e0 2 China Minsheng Banking Corp., Ltd. Definitions In this report, unless the context otherwise requires, the following terms shall have the meanings set out below. “ACFIC” All-China Federation of Industry and Commerce (中華全國工商 業聯合會) “Bank” or “Company” or China Minsheng Banking Corp., Ltd. “China Minsheng Bank” or “Minsheng Bank” “Board” or “Board of Directors” the Board of Directors of the Company “CBRC” China Banking Regulatory Commission “Chief Financial Officer” the Chief Financial Officer of the Company “Convertible Bond(s)” or A Share convertible bonds “Minsheng Convertible Bond(s)” or “A Share Convertible Bond(s)” “CPPCC” The National Committee of the Chinese People’s Political Consultative Conference (中國人民政治協商會議全國委員會) “CSRC” China Securities Regulatory Commission “Dagong” Dagong Global Credit Rating Co., Ltd. WorldReginfo - 97e94664-5096-4eee-8ccf-71d19e68d8e0 Definitions Annual Report 2014 3 “Director” a director of the Company “Group” the Bank and its subsidiaries “Hong Kong Listing Rules” the Rules Governing the Listing of Securities on Hong Kong Stock Exchange “Hong Kong Stock Exchange” The Stock Exchange of Hong Kong Limited “IT” information technology “Minsheng Royal Asset Minsheng Royal Asset Management Co., Ltd. Management” “Minsheng Royal Fund” Minsheng Royal Fund Management Co., Ltd. “Minsheng Financial Leasing” Minsheng Financial Leasing Co., Ltd. “Model Code” Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix 10 to the Hong Kong Listing Rules “NSOE(s)” non-state-owned enterprise(s) “Phoenix Plan” (鳳凰計劃) A comprehensive customer-oriented plan for strategic transformation and restructuring of the Bank in response to the liberalisation of interest rate WorldReginfo - 97e94664-5096-4eee-8ccf-71d19e68d8e0 4 China Minsheng Banking Corp., Ltd. Definitions “Senior Management” Senior management of the Company “SFO” Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) “SSE” Shanghai Stock Exchange WorldReginfo - 97e94664-5096-4eee-8ccf-71d19e68d8e0 Annual Report 2014 5 Material Risk Warning The Company has no foreseeable material risks. For potential risks, please refer to “XI. Prospects and Measures — (III) Potential risks” under the section of “Management Discussion and Analysis” in this report. WorldReginfo - 97e94664-5096-4eee-8ccf-71d19e68d8e0 6 China Minsheng Banking Corp., Ltd. Message from the Chairman Chairman Mr. HONG Qi WorldReginfo - 97e94664-5096-4eee-8ccf-71d19e68d8e0 Message from the Chairman Annual Report 2014 7 In 2014, the global economy was mired in a period of austerity adjustments. On the other hand, the economy of China saw a new development trend with slower economic growth, structural adjustment and initial adaptation to new policies. The new development trend added to the pressure of China’s economic restructuring and downward adjustment, resulting in overcapacity. Due to the slowdown of macro-economic growth, increased risks of asset quality, accelerated liberalization of interest rate and the success of internet fi nance, the banking industry gradually resumed its reasonable growth under the new development trend. In 2014, in the face of an ever-changing external environment and complicated competition environment, the Company overcame various diffi culties and challenges by making persistent efforts in strategic transformation. In response to new challenges and opportunities, the Company ensured its stable development through preventing risk, maintaining growth, facilitating reform, making adjustment and encouraging creativity. The conditions of the operation are as follows: Steady growth of operating results. The net profi t attributable to equity shareholders of the Bank for 2014 amounted to RMB44,546 million, representing an increase of 5.36% as compared with the corresponding period of the previous year. Return on average assets and return on average shareholders’ equity were 1.26% and 20.35%, respectively, representing a slight decrease as compared with the corresponding period of the previous year. Basic earnings per share amounted to RMB1.31, representing an increase of RMB0.07 as compared with last year. As at the end of 2014, net assets per share attributable to equity shareholders of the Bank amounted to RMB7.03, representing an increase of RMB1.22 as compared with the end of 2013. Some indicators showed a slowdown of growth, refl ecting changes of the macro-environment and market demands and the determination of the Company to change and adjust its business strategies. Net profit attributable to shareholders of the Bank Net assets per share (RMB million) (RMB) 50,000 8 42,278 5.36% 44,546 7.03 40,000 1.22 6 5.81 30,000 4 20,000 2 10,000 0 0 2013 2014 2013 2014 WorldReginfo - 97e94664-5096-4eee-8ccf-71d19e68d8e0 8 China Minsheng Banking Corp., Ltd. Message from the Chairman Accelerated development of strategic businesses. In 2014, the Company further implemented its strategy of becoming a “bank for NSOEs”, “bank for small and micro enterprises” and “bank for high- end retail customers” in an orderly manner with proven results. As at the end of 2014, the Company had 11,876 NSOE customers with outstanding loan balances, and the outstanding general loans to NSOEs amounted to RMB653,505 million, accounting for 83.47% and 57.96% of corporate banking segment, respectively. Our strategic position of “bank for NSOEs” was further consolidated. In 2014, the Company maintained its leading position in small business fi nance. As at the end of 2014, outstanding loans to small and micro enterprises and the number of small business customers of the Company were RMB402,736 million and 2 ,911.9 thousand respectively, representing an increase of 52.86% as compared with the end of last year. Driven by the small business fi nance, the growth of deposits of the Company was signifi cantly strengthened. As at the end of 2014, fi nancial assets of individual customers under management
Load more

Recommended publications
  • Annual Report CORPORATE INFORMATION
    CONTENTS Corporate Information • 2 Corporate Profile • 4 Group Financial Summary • 6 Chairman’s Statement • 8 Management Discussion And Analysis • 11 Corporate Culture and Social Responsibilities • 41 Staff Relationship and Welfare • 43 Directors and Senior Management • 46 Report of The Directors • 53 Corporate Governance Report • 83 Independent Auditor’s Report • 95 Consolidated Statement of Profit or Loss and Other Comprehensive Income • 97 Consolidated Statement of Financial Position • 99 Consolidated Statement of Changes In Equity • 101 Consolidated Statement of Cash Flows • 103 Notes To The Consolidated Financial Statements • 106 CORPORATE INFORMATION BOARD OF DIRECTORS REMUNERATION COMMITTEE Executive Directors Mr. Lee Kwan Hung (Chairman of the Committee) Mr. Chao Guowei, Charles Mr. Liu Dejian (Chairman) Mr. Liu Sai Keung, Thomas Mr. Liu Luyuan (Chief Executive Officer) Mr. Zheng Hui NOMINATION COMMITTEE Mr. Chen Hongzhan Mr. Liu Sai Keung, Thomas (Chairman of the Committee) Non-executive Director Mr. Chao Guowei, Charles Mr. Lin Dongliang Mr. Lee Kwan Hung Independent non-executive Directors SHARE AWARD SCHEME COMMITTEE Mr. Chao Guowei, Charles Mr. Lee Kwan Hung (Chairman of the Committee) Mr. Lee Kwan Hung Mr. Liu Sai Keung, Thomas Mr. Liu Sai Keung, Thomas Mr. Yam Kwok Hei Benjamin Mr. Lau Hak Kin COMPLIANCE OFFICER AUTHORISED REPRESENTATIVES Mr. Liu Luyuan Mr. Liu Luyuan COMPANY SECRETARY Mr. Lau Hak Kin Mr. Lau Hak Kin HONG KONG LEGAL ADVISER QUALIFIED ACCOUNTANT Sidley Austin Mr. Yam Kwok Hei Benjamin, HKICPA, CA, CFA PRC LEGAL ADVISER Mr. Lau Hak Kin, HKICPA, FCCA, CFA Jingtian & Gongcheng AUDIT COMMITTEE AUDITOR Mr. Chao Guowei, Charles (Chairman of the Committee) Mr. Lee Kwan Hung Deloitte Touche Tohmatsu Mr.
    [Show full text]
  • Performing Masculinity in Peri-Urban China: Duty, Family, Society
    The London School of Economics and Political Science Performing Masculinity in Peri-Urban China: Duty, Family, Society Magdalena Wong A thesis submitted to the Department of Anthropology of the London School of Economics for the degree of Doctor of Philosophy, London December 2016 1 DECLARATION I certify that the thesis I have presented for examination for the MPhil/ PhD degree of the London School of Economics and Political Science is solely my own work other than where I have clearly indicated that it is the work of others (in which case the extent of any work carried out jointly by me and any other person is clearly identified in it). The copyright of this thesis rests with the author. Quotation from it is permitted, provided that full acknowledgement is made. This thesis may not be reproduced without my prior written consent. I warrant that this authorisation does not, to the best of my belief, infringe the rights of any third party. I declare that my thesis consists of 97,927 words. Statement of use of third party for editorial help I confirm that different sections of my thesis were copy edited by Tiffany Wong, Emma Holland and Eona Bell for conventions of language, spelling and grammar. 2 ABSTRACT This thesis examines how a hegemonic ideal that I refer to as the ‘able-responsible man' dominates the discourse and performance of masculinity in the city of Nanchong in Southwest China. This ideal, which is at the core of the modern folk theory of masculinity in Nanchong, centres on notions of men's ability (nengli) and responsibility (zeren).
    [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]
  • 中 國 民 生 銀 行 股 份 有 限 公 司 China Minsheng Banking Corp., Ltd
    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. 中國民生銀行股份有限公司 CHINA MINSHENG BANKING CORP., LTD. (A joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 01988) (USD Preference Shares Stock Code: 04609) Results Announcement For the Year Ended 31 December 2019 The Board of Directors (the “Board”) of China Minsheng Banking Corp., Ltd. (the “Company”) hereby announces the audited results of the Company and its subsidiaries for the year ended 31 December 2019. This announcement, containing the full text of the 2019 Annual 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 “Hong Kong Stock Exchange”) in relation to information to accompany preliminary announcements of annual results. Publication of Annual Results Announcement and Annual Report This results announcement will be published on the HKEXnews website of Hong Kong Stock Exchange (www.hkexnews.hk) and the Company’s website (www.cmbc.com.cn). The 2019 Annual Report of the Company will be dispatched to holders of H shares of the Company and published on the websites of the Company and Hong Kong Stock Exchange in due course. Profit Distribution On 30 March 2020, the 20th meeting of the seventh session of the Board of the Company approved the profit distribution plan to declare to holders of A shares and H shares whose names appear on the registers as at the record dates as indicated in the notice of 2019 annual general meeting of the Company to be published by the Company in due course, a cash dividend of RMB3.70 (tax inclusive) for every 10 shares being held.
    [Show full text]
  • Decentralization, Deregulation and Economic Transition in China
    Decentralization, Deregulation and Economic Transition in China Justin Yifu Lin China Center for Economic Research, Peking University Ran Tao China Center of Agriculture Policy, China Academy of Sciences Mingxing Liu China Center for Economic Research, Peking University 1 Decentralization, Deregulation and Economic Transition in China Abstract In this paper, based on an account of recent economic history of in China, we explore the institutional background and inter-government relationship both in the pre-reform and post- reform period. We demonstrate the centralization-decentralization cycle in the traditional planned system is an inevitable outcome of the regulatory structure endogenous to the overtaking development strategy inconsistent with China’s endowment structure. We also argue that the marketization reform since late 1970s can be viewed as a process of deregulation, and the decentralization at that time is only a means of deregulation. We make a critical review of the “Chinese style fiscal federalism” by arguing that the evolution of fiscal arrangements after the marketization reform is, to a large extent, endogenous to China’s transitional path and de-regulation sequencing. We propose a framework to explain China’s growth in transition and point out that rule-based decentralization in China is yet to be achieved. We argue that the administrative/fiscal decentralization may not promote economic development of China without further reducing government intervention. The existing problems in the current inter-government fiscal arrangement are analyzed from the perspective of development strategy and government regulation. 2 I. Introduction China’s economic transition has been remarkable in the past two decades. In the two decades, China has transformed itself from a centrally planned economy to an emerging market economy and at the same time has achieved a more than 9 percent average growth rate.
    [Show full text]
  • Enhancement of Life
    Enhancement of life 生命 的 栽培 年報 2010-2011 Annual Report 宗 旨 會 訓 本基督之精神，促進個人德智體群 爾識真理 真理釋爾 四育之發展，俾有高尚健全之人格， ( 會 訓 釋 義： 耶 穌 是 道 路、 真 理、 生 命， 只 要 我 們 認 識 團契之精神，服務社會，造福人群。 和得著耶穌並有上帝的話語作生活指南，心靈就不再受 罪惡、憂鬱、恐懼所捆綁而滿有真理、喜樂和平安，有 PURPOSE 持守美善的自由，也有不為惡的自由。) The purpose of the Association is to advance ( 取自新約聖經約翰福音八章卅二節 ) t h e s p i r i t u a l , m e n t a l , p h y s i c a l a n d s o c i a l w e l f a r e o f i n d i v i d u a l s , t o p r o m o t e t h e i r MOTTO growth in Christian character and to cultivate Christian spirit of fellowship and service. A n d yo u s h a l l k n ow t h e t ru t h a n d t h e t ru t h shall make you free (John 8:32) 藍 三 角 會 徽 的 意 義 世 界 基 督 教 女 青 年 會 的 格 言 象徵基督教女青年會服務宗旨是生命的栽培。 萬 軍 之 耶 和 華 說：「 不 是 倚 靠 勢 力， 不 是 倚 靠 才 它代表了一個人成長及發展的四方面： 能，乃是倚靠我的靈，方能成事。」 德、智、體、群。 （取自舊約聖經撒迦利亞書四章六節） 假 如 一 個 人 能 夠 在 德 智 體 群 各 方 面 平 均 發 展， 就 會 獲 得 豐 盛 的 生 命， 滿 有 真 理、 喜 樂 與 平 安， 成 MOTTO OF THE WORLD YWCA 為社會上才德兼備、造福社群的人才。 "Not by might nor by power, but by my Spirit," says the Lord Almighty.
    [Show full text]
  • Lu Zhiqiang China Oceanwide
    08 Investment.FIN.qxp_Layout 1 14/9/16 12:21 pm Page 81 Week in China China’s Tycoons Investment Lu Zhiqiang China Oceanwide Oceanwide Holdings, its Shenzhen-listed property unit, had a total asset value of Rmb118 billion in 2015. Hurun’s China Rich List He is the key ranked Lu as China’s 8th richest man in 2015 investor behind with a net worth of Rmb83 billlion. Minsheng Bank and Legend Guanxi Holdings A long-term ally of Liu Chuanzhi, who is known as the ‘godfather of Chinese entrepreneurs’, Oceanwide acquired a 29% stake in Legend Holdings (the parent firm of Lenovo) in 2009 from the Chinese Academy of Social Sciences for Rmb2.7 billion. The transaction was symbolic as it marked the dismantling of Legend’s SOE status. Lu and Liu also collaborated to establish the exclusive Taishan Club in 1993, an unofficial association of entrepreneurs named after the most famous mountain in Shandong. Born in Shandong province in 1951, Lu In fact, according to NetEase Finance, it was graduated from the elite Shanghai university during the Taishan Club’s inaugural meeting – Fudan. His first job was as a technician with hosted by Lu in Shandong – that the idea of the Shandong Weifang Diesel Engine Factory. setting up a non-SOE bank was hatched and the proposal was thereafter sent to Zhu Getting started Rongji. The result was the establishment of Lu left the state sector to become an China Minsheng Bank in 1996. entrepreneur and set up China Oceanwide. Initially it focused on education and training, Minsheng takeover? but when the government initiated housing Oceanwide was one of the 59 private sector reform in 1988, Lu moved into real estate.
    [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]
  • China Vanke Co., Ltd. 2013 First Quarterly Report
    China Vanke Co., Ltd. 2013 First Quarterly Report §1 Important Notice 1.1 The Board, the Supervisory Committee, Directors, members of the Supervisory Committee and senior management of the Company warrant that in respect of the information contained in this Quarterly Report, there are no misrepresentations or misleading statements, or material omission, and individually and collectively accept full responsibility for the authenticity, accuracy and completeness of the information contained in this Quarterly Report. 1.2 None of the Directors, members of the Supervisory Committee and senior management fails to assure or disputes with the authenticity, accuracy and completeness of the contents of this Quarterly Report. 1.3 Deputy Chairman Qiao Shibo and Director Wei Bin were not able to attend the board meeting in person due to their business engagements and had authorised Director Chen Ying to represent them and vote on behalf of them. Director Yu Liang was not able to attend the board meeting in person due to personal reasons and had authorised Director Xiao Li to represent him and vote on behalf of him. 1.4 This quarterly financial report of the Company has not been audited. 1.5 The Company’s Chairman Wang Shi, Director and President Yu Liang, and Executive Vice President and Supervisor of Finance Wang Wenjin declare that the financial report contained in this Quarterly Report is warranted to be true and complete. §2 Basic Corporate Information 2.1 Major accounting data and financial guidance (Unit: RMB’000) As at 31 March 2013 As at 31
    [Show full text]
  • Annual Report 2014-15.Pdf
    Message from the Chairman For the past 15 years, The Dragon Foundation has worked hard to bring together young ethnic Chinese from all over the world to know more about their heritage and to find out how best they may contribute both to their own communities and to China. With technology so highly developed – and advancing almost every day – I believe that these connections, collaborations and partnerships may only grow closer. Technology aims at more than just communication however, and today’s young people are seeking ways to harness its power for employment and education. For this reason, The Dragon Foundation co-organised with the Hong Kong Federation of Youth Groups, the first Global Youth Entrepreneurs Forum. It brought together 400 young Chinese persons, including the Dragon 100 delegates, who sat down to learn, discuss and discover ways to improve their own entrepreneurial skills. The enrichment is not only for enhancing employability but also as a mean of driving the world economy. I remain impressed by the young “Dragons” who are always looking to the future, while also remaining committed to serving their communities. This is especially true of the Foundation’s two alumni associations, DragoNation and Envision Hong Kong. None of this would have been possible without the hard work and efforts of so many. My heartfelt thanks go to all the Foundation Directors, especially the Members of the Programme and Fund Raising Committees, for their tireless work. I would particularly like to thank Shelley Lee, Tenniel Chu and Christopher Lau for organising the Sixth Charity Golf Tournament at Mission Hills Shenzhen Clubbhouse.
    [Show full text]
  • The Role of Chinese Universities in the Knowledge Economy Shuang-Ye Chen*
    London Review of Education Vol. 10, No. 1, March 2012, 101–112 Contributing knowledge and knowledge workers: the role of Chinese universities in the knowledge economy Shuang-Ye Chen* Department of Educational Administration and Policy, The Chinese University of Hong Kong, Hong Kong SAR, China (Received 9 December 2011; final version received 9 January 2012) As China has appeared only recently as an important knowledge producer with growing global economic significance, little is known internationally about how these processes develop and are managed within China. The rapidly expanding Chinese higher education system is playing an increasingly important role in China’s knowledge economy and there- fore in the global knowledge society. This paper reviews historically the changing role of Chinese universities from the planned economy to the knowledge economy, analyses their contribution of knowledge and knowledge workers, and critically reflects on the mecha- nisms driving or confining their future contribution to the knowledge economy. Keywords: China; university; knowledge economy; knowledge production; knowledge worker Introduction The knowledge economy is defined by Powell and Snellman (2004) as production and ser- vices based on knowledge-intensive activities. In the current knowledge economy, the rela- tionship between knowledge and wealth has been significantly highlighted, tightened, and materialised. It is a time of opportunity and threat for the university. The university institution has survived, together with the church, as one of the oldest western institutions. Its roles have evolved across times and nations from cultivating gentle- men in Newman’s ideal, the Humboldtian promotion of science and scholarship, to Kerr’s teaching–research–service uses of the ‘multiversity’, and then to be a vital engine for the glo- bal knowledge economy (Barnett 1994; Delanty 2001).
    [Show full text]
  • Coming Home to China Booklet
    UNCLASSIFIED Coming Home Booklet- Fujian 1 UNCLASSIFIED Introduction China’s economy has continued to grow rapidly over the past decade; it has become an important developing country in the world. With the continuous appreciation of RMB and burgeoning business and job opportunities, more and more overseas Chinese students choose to return home. This is the best testimony of the country’s growing strength. The Prime Minister of the UK has also visited China repeatedly in the last two years and established a “partners for growth” relationship between the two countries. Many Chinese people in the UK still feel lonely and homesick; they endure the hardship in another country for a better life of their family at home. After some years, the yearning for home might grow stronger and stronger. If you are considering coming back to China, this booklet may give you some helpful advices and a glance of China’s development since your last time there. It also gives you guidance from application materials all through to your journey back home, provides answers to questions you might have, and shares some successful cases of people establishing business after returning. You can find information on China’s household registration, medical provision, vocational training, business opportunities as well as lists of religious venues and non-profit organizations in the booklet which will help you learn the current conditions at home. China has many provinces and regions; this guidance only applies to Fujian Province. 2 UNCLASSIFIED Table of Contents PART ONE
    [Show full text]