DOCSLIB.ORG

Bank of China Limited

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Bank of China Limited Bank of China Limited Stock Code : 3988 (Ordinary H-Share) 4601 (Offshore Preference Share) 2015 Annual Report The print version of the Bank’s 2015 Annual Report, to be published in April 2016 will supersede this version. (BOC) 165885 28/03/2016 16:00 M16 HKEX E>C Introduction Bank of China was formally established in February 1912 following the approval of Dr. Sun Yat-sen. From 1912 to 1949, the Bank served consecutively as the country’s central bank, international exchange bank and specialised international trade bank. Fulfilling its commitment to serving the public and developing China’s financial services sector, the Bank rose to a leading position in the Chinese financial industry and developed a good standing in the international financial community, despite many hardships and setbacks. After 1949, drawing on its long history as the state-designated specialised foreign exchange and trade bank, the Bank became responsible for managing China’s foreign exchange operations and provided vital support to the nation’s foreign trade development and economic infrastructure by its offering of international trade settlement, overseas fund transfer and other non-trade foreign exchange services. During China’s reform and opening up period, the Bank seized the historic opportunity presented by the government’s strategy of capitalising on foreign funds and advanced technologies to boost economic development, and became the country’s key foreign financing channel by building up its competitive advantages in foreign exchange business. In 1994, the Bank was transformed into a wholly state-owned commercial bank. In August 2004, Bank of China Limited was incorporated. The Bank was listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange in June and July 2006 respectively, becoming the first Chinese commercial bank to launch an A-Share and H-Share initial public offering and achieve a dual listing in both markets. In 2015, Bank of China was again designated as a Global Systemically Important Bank, thus becoming the sole financial institution from emerging economies to be designated as a Global Systemically Important Bank for five consecutive years. As China’s most internationalised and diversified bank, Bank of China provides a comprehensive range of financial services to customers across the Chinese mainland as well as 46 countries and regions. The Bank’s core business is commercial banking, including corporate banking, personal banking and financial markets services. BOC International Holdings Limited, a wholly owned subsidiary, is the Bank’s investment banking arm. Bank of China Group Insurance Company Limited and Bank of China Insurance Company Limited, both wholly owned subsidiaries, run the Bank’s insurance business. Bank of China Group Investment Limited, a wholly owned subsidiary, undertakes the Bank’s direct investment and investment management business. Bank of China Investment Management Co., Ltd., a controlled subsidiary, operates the Bank’s fund management business. BOC Aviation Pte. Ltd., a wholly owned subsidiary, is in charge of the Bank’s aircraft leasing business. Bank of China has upheld the spirit of “pursuing excellence” throughout its hundred-year history. With adoration of the nation in its soul, integrity as its backbone, reform and innovation as its path forward and “people first” as its guiding principle, the Bank has built up an excellent brand image that is widely recognised within the industry and by its customers. Faced with new historic opportunities, the Bank will meet its social responsibilities, strive for excellence, and make further contributions to achieving the China Dream and the great rejuvenation of the Chinese nation. (BOC) 165885 28/03/2016 16:00 M16 HKEX E>C Development Strategy Core Values Pursuing excellence Integrity Performance Responsibility Innovation Harmony Strategic Goal Serving Society, Delivering Excellence Overall Requirements of the Development Strategy To build Bank of China into an excellent bank driven by the pursuit of noble values, a bank that shoulders significant responsibility for the nation’s revival, a bank that possesses a competitive edge in the globalisation process, a bank that leads lifestyle changes through technological innovations, a bank that earns customer loyalty through market competition and a bank that meets the expectations of shareholders, employees and society in the course of its sustained development. (BOC) 165885 28/03/2016 16:00 M16 HKEX E>C Contents Definitions 2 Important Notice 4 Honours and Awards 5 Financial Highlights 6 Corporate Information 9 Message from the Chairman 11 Message from the President 13 Message from the Chairman of the Board of Supervisors 16 Management Discussion and Analysis 17 Financial Review 17 Business Review 35 Risk Management 66 Organisational Management, Human Resources Development and Management 80 Outlook 83 Corporate Social Responsibilities 85 Changes in Share Capital and Shareholdings of Shareholders 88 Directors, Supervisors and Senior Management Members 97 Corporate Governance 114 Report of the Board of Directors 134 Report of the Board of Supervisors 144 Significant Events 148 Independent Auditor’s Report 151 Consolidated Financial Statements 152 Unaudited Supplementary Financial Information 360 Supplementary Information — Differences Between IFRS and CAS Consolidated Financial Statements 365 Unaudited Supplementary Information — Global Systemically Importance Assessment Indicators of Commercial Banks 366 Unaudited Supplementary Information — Leverage Ratio 367 Reference for Shareholders 369 Organisational Chart 373 List of Major Branches and Subsidiaries 374 1 (BOC) 165885 28/03/2016 16:00 M16 HKEX E>C Definitions In this report, unless the context otherwise requires, the following terms shall have the meaning set out below: The Bank/the Group Bank of China Limited or its predecessors and, except where the context otherwise requires, all of the subsidiaries of Bank of China Limited Articles of Association The performing Articles of Association of the Bank A Share Domestic investment share(s) in the ordinary share capital of the Bank, with a nominal value of RMB1.00 each, which are listed on SSE (Stock Code: 601988) Basis Point (Bp, Bps) Measurement unit of changes in interest rate or exchange rate. 1 basis point is equivalent to 0.01 percentage point BOC Aviation BOC Aviation Pte. Ltd. BOC Insurance Bank of China Insurance Company Limited BOCG Insurance Bank of China Group Insurance Company Limited BOCG Investment Bank of China Group Investment Limited BOCG Life BOC Group Life Assurance Co., Ltd. BOCHK Bank of China (Hong Kong) Limited, an authorised financial institution incorporated under the laws of Hong Kong and a wholly-owned subsidiary of BOCHK (Holdings) BOCHK (Holdings) BOC Hong Kong (Holdings) Limited, a company incorporated under the laws of Hong Kong, the ordinary shares of which are listed on the Hong Kong Stock Exchange BOCI BOC International Holdings Limited BOCIM Bank of China Investment Management Co., Ltd. BOCI China BOC International (China) Limited BOC-Samsung Life BOC-Samsung Life Ins. Co., Ltd. CBRC China Banking Regulatory Commission Central and Southern China The area including, for the purpose of this report, the branches of Henan, Hubei, Hunan, Guangdong, Shenzhen, Guangxi and Hainan Company Law The Company Law of PRC Convertible Bonds Corporate bonds that are vested for conversion to the A-Share stock of the Bank CSRC China Securities Regulatory Commission 2 (BOC) 165885 28/03/2016 16:00 M16 HKEX E>C Domestic Preference Share Domestic preference share(s) in the preference share capital of the Bank, with a nominal value of RMB100 each, which are traded on SSE (Stock Code: 360002, 360010) Eastern China The area including, for the purpose of this report, the branches of Shanghai, Jiangsu, Suzhou, Zhejiang, Ningbo, Anhui, Fujian, Jiangxi and Shandong HKEx Hong Kong Exchanges and Clearing Limited Hong Kong Listing Rules The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited Hong Kong Stock Exchange The Stock Exchange of Hong Kong Limited H Share Overseas-listed foreign investment share(s) in the ordinary share capital of the Bank, with a nominal value of RMB1.00 each, which are listed on the Hong Kong Stock Exchange and traded in Hong Kong dollars (Stock Code: 3988) Huijin Central Huijin Investment Ltd. Independent Director Independent director under the listing rules of SSE and the Articles of Association, and independent non-executive director under the Hong Kong Listing Rules MOF Ministry of Finance, PRC Northeastern China The area including, for the purpose of this report, the branches of Heilongjiang, Jilin and Liaoning Northern China The area including, for the purpose of this report, the branches of Beijing, Tianjin, Hebei, Shanxi, Inner Mongolia and the Head Office Offshore Preference Share Offshore preference share(s) in the preference share capital of the Bank, with a nominal value of RMB100 each, which are listed on the Hong Kong Stock Exchange and traded in US dollars (Stock Code: 4601) PBOC The People’s Bank of China, PRC PRC The People’s Republic of China RMB Renminbi, the lawful currency of PRC SAFE State Administration of Foreign Exchange, PRC SFO Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) SSE The Shanghai Stock Exchange Western China The area including, for the purpose of this report, the branches of Chongqing, Sichuan, Guizhou, Yunnan, Shaanxi, Gansu, Ningxia, Qinghai, Tibet and Xinjiang 3 (BOC) 165885 28/03/2016 16:00 M16 HKEX E>C Important Notice The Board of Directors, the Board of Supervisors, directors, supervisors and senior management members of the Bank warrant that the information in this report is authentic, accurate and complete, contains no false record, misleading statement or material omission, and jointly and severally accept full responsibility for the information in this report. The 2015 Annual Report and Annual Results Announcement of the Bank have been reviewed and approved at the meeting of the Board of Directors of the Bank held on 30 March 2016. The number of directors who should attend the meeting is fourteen, with thirteen directors attending the meeting in person.
Load more

Recommended publications
  • Bank of China Limited, Luxembourg Branch
    http://www.oblible.com BANK OF CHINA (LUXEMBOURG) S.A. (incorporated with limited liability under the laws of Luxembourg) Issue of EUR 800,000,000 0.125 per cent. Notes due 2023 Guaranteed by Bank of China Limited, Luxembourg Branch under the U.S.$40,000,000,000 Medium Term Note Programme of Bank of China Limited ______________ These Listing Particulars (the “Listing Particulars”) are prepared in connection with the U.S.$40,000,000,000 Medium Term Note Programme (the “Programme”) established by Bank of China Limited (the “Bank”), and the EUR 800,000,000 0.125 per cent. Notes due 2023 (the “Notes”) to be issued by Bank of China (Luxembourg) S.A. (the “Issuer”) and unconditionally and irrevocably guaranteed by Bank of China Limited, Luxembourg Branch (the “Guarantor”) on 16 January 2020 under the Programme. The Offering Circular in respect of the Programme dated 4 April 2019 (the “Principal Offering Circular”) as supplemented by the supplemental offering circular dated 8 October 2019 (the “Supplement”) and the second supplemental offering circular dated 8 October 2019 (the “Second Supplement”, and together with the Principal Offering Circular and the Supplement, the “Offering Circular”), is set out in Annex A hereto and forms part of these Listing Particulars. Terms defined in the Offering Circular have the same meaning when used in these Listing Particulars. Pursuant to the Approval by the Enterprise Borrowing Foreign Debt Registration Certificate of [2019] (《企业借用外债备案登记证明》(发改办外资备 [[2019]51 号])) issued by the NDRC General Office on 24 January 2019 (the “NDRC Approval”), the Bank is not required to complete the pre-issuance registration in respect of the Notes with the NDRC as the Notes will be issued within the NDRC Approval.
    [Show full text]
  • Contemporary China: a Book List
    PRINCETON UNIVERSITY: Woodrow Wilson School, Politics Department, East Asian Studies Program CONTEMPORARY CHINA: A BOOK LIST by Lubna Malik and Lynn White Winter 2007-2008 Edition This list is available on the web at: http://www.princeton.edu/~lynn/chinabib.pdf which can be viewed and printed with an Adobe Acrobat Reader. Variation of font sizes may cause pagination to differ slightly in the web and paper editions. No list of books can be totally up-to-date. Please surf to find further items. Also consult http://www.princeton.edu/~lynn/chinawebs.doc for clicable URLs. This list of items in English has several purposes: --to help advise students' course essays, junior papers, policy workshops, and senior theses about contemporary China; --to supplement the required reading lists of courses on "Chinese Development" and "Chinese Politics," for which students may find books to review in this list; --to provide graduate students with a list that may suggest books for paper topics and may slightly help their study for exams in Chinese politics; a few of the compiler's favorite books are starred on the list, but not much should be made of this because such books may be old or the subjects may not meet present interests; --to supplement a bibliography of all Asian serials in the Princeton Libraries that was compiled long ago by Frances Chen and Maureen Donovan; many of these are now available on the web,e.g., from “J-Stor”; --to suggest to book selectors in the Princeton libraries items that are suitable for acquisition; to provide a computerized list on which researchers can search for keywords of interests; and to provide a resource that many teachers at various other universities have also used.
    [Show full text]
  • Appendix 1: Rank of China's 338 Prefecture-Level Cities
    Appendix 1: Rank of China’s 338 Prefecture-Level Cities © The Author(s) 2018 149 Y. Zheng, K. Deng, State Failure and Distorted Urbanisation in Post-Mao’s China, 1993–2012, Palgrave Studies in Economic History, https://doi.org/10.1007/978-3-319-92168-6 150 First-tier cities (4) Beijing Shanghai Guangzhou Shenzhen First-tier cities-to-be (15) Chengdu Hangzhou Wuhan Nanjing Chongqing Tianjin Suzhou苏州 Appendix Rank 1: of China’s 338 Prefecture-Level Cities Xi’an Changsha Shenyang Qingdao Zhengzhou Dalian Dongguan Ningbo Second-tier cities (30) Xiamen Fuzhou福州 Wuxi Hefei Kunming Harbin Jinan Foshan Changchun Wenzhou Shijiazhuang Nanning Changzhou Quanzhou Nanchang Guiyang Taiyuan Jinhua Zhuhai Huizhou Xuzhou Yantai Jiaxing Nantong Urumqi Shaoxing Zhongshan Taizhou Lanzhou Haikou Third-tier cities (70) Weifang Baoding Zhenjiang Yangzhou Guilin Tangshan Sanya Huhehot Langfang Luoyang Weihai Yangcheng Linyi Jiangmen Taizhou Zhangzhou Handan Jining Wuhu Zibo Yinchuan Liuzhou Mianyang Zhanjiang Anshan Huzhou Shantou Nanping Ganzhou Daqing Yichang Baotou Xianyang Qinhuangdao Lianyungang Zhuzhou Putian Jilin Huai’an Zhaoqing Ningde Hengyang Dandong Lijiang Jieyang Sanming Zhoushan Xiaogan Qiqihar Jiujiang Longyan Cangzhou Fushun Xiangyang Shangrao Yingkou Bengbu Lishui Yueyang Qingyuan Jingzhou Taian Quzhou Panjin Dongying Nanyang Ma’anshan Nanchong Xining Yanbian prefecture Fourth-tier cities (90) Leshan Xiangtan Zunyi Suqian Xinxiang Xinyang Chuzhou Jinzhou Chaozhou Huanggang Kaifeng Deyang Dezhou Meizhou Ordos Xingtai Maoming Jingdezhen Shaoguan
    [Show full text]
  • Prospectus E.Pdf
    IMPORTANT If you are in any doubt about this prospectus, you should consult your stockbroker, bank manager, solicitor, professional accountant or other professional adviser. (Incorporated in Hong Kong with limited liability under the Companies Ordinance) GLOBAL OFFERING Number of Offer Shares in the Global Offering: 2,298,435,000 (subject to adjustment and the Over-allotment Option) Number of Hong Kong OÅer Shares: 229,843,500 (subject to adjustment) Maximum OÅer Price: HK$9.50 per OÅer Share payable in full on application in Hong Kong dollars, subject to refund Nominal Value: HK$5.00 per Share Stock Code: 2388 Joint Global Coordinators and Joint Bookrunners BOC International Goldman Sachs (Asia) L.L.C. UBS Warburg Holdings Limited Joint Sponsors BOCI Asia Limited Goldman Sachs (Asia) L.L.C. UBS Warburg Asia Limited The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this prospectus, 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 prospectus. A copy of this prospectus, together with the documents speciÑed in the section headed ""Documents Delivered to the Registrar of Companies'' in Appendix VIII, has been registered by the Registrar of Companies in Hong Kong as required by Section 38D of the Companies Ordinance, Chapter 32 of the Laws of Hong Kong. The Securities and Futures Commission and the Registrar of Companies in Hong Kong take no responsibility as to the contents of this prospectus or any other document referred to above.
    [Show full text]
  • Deregulation, Competition, and Consumer Choice of Insurer: Evidence from Liberalization Reform in China's Automobile Insurance
    Deregulation, competition, and consumer choice of insurer: Evidence from liberalization reform in China’s automobile insurance market Abstract: In 2015, the China Insurance Regulatory Commission initiated a liberalization reform in the automobile insurance industry to grant insurers more discretion in policy design, underwriting, and ratemaking. The deregulation intended to increase competition and choices for the consumer; yet, there was little scientific evidence on how the insurance market responded to the reform. This article examines the effectiveness of this deregulation reform in China. Leveraging a large industry dataset of more than seven million automobile insurance policies from 63 major automobile insurers operating in China, we study policyholders’ switching behavior among insurance providers. To better understand the heterogeneity in the impact of deregulation on market performance and consumer choice, we further analyze the switching pattern among different types of insurers according to the insurer's size, the company’s business structure, the jurisdiction’s market power, and the customer’s risk type. Overall, the empirical results suggest that the reform has met its original goal, leading to higher market competition and more diversified consumer choices. We further confirm that the average premium dropped significantly after the reform for all three jurisdictions implementing the reform; yet, the insurers’ pricing strategy was risk type-dependent, i.e., the average premium for the high risk customers increased, while the average premium for the low risk customers decreased substantially. Keyword: Automobile insurance, competition, deregulation, insurer switching 1 Introduction Deregulation, in general, leads to enhanced competition. This trend has been observed in various industries, such as airline, telecommunication, and healthcare.
    [Show full text]
  • Global Fraud & Financial Crime
    GLOBAL FRAUD & FINANCIAL CRIME | SEPTEMBER 15-17, 2020 | VIRTUAL EVENT FREE TO ATTEND* GLOBAL FRAUD & FINANCIAL CRIME 3RD ANNUAL | SEPTEMBER 15-17, 2020 | VIRTUAL EVENT Analyzing the risks to determine the solutions in combating Fraud and Financial Crime KEY TOPICS BEING COVERED INCLUDE: COVID-19 APPLICATION FRAUD INTERNAL FRAUD Reviewing the impact of COVID-19 on Detection and identification of fraudulent Identifying internal weaknesses and increased fraudulent activity applications ensuring consistent employee checks GLOBAL COLLABORATION SANCTIONS RISK CULTURE Developing collaboration efforts across Ensuring compliance with global Developing an effective risk culture and institutions and jurisdictions sanctions requirements setting the tone from the top APP FRAUD AI & MACHINE LEARNING TRANSACTION MONITORING Mitigating against authorised Next generation of fraud and financial Reviewing emerging trends in transaction push payment fraud crime prevention techniques monitoring to detect fraudulent activity SPEAKERS INCLUDE Sabeena Liconte Andrew Barnett Andrew Jensen Lester Joseph Head of Legal Head of Fraud Management Global Head of Sanctions Head, Global Financial and Compliance Nordea Scotiabank Crimes Intelligence Group BOC International (USA) Wells Fargo & Company Tim Lutz Corey A. Reason Jayati Chaudhury Dr Liliya Gelemerova Director, Financial Head of Compliance Financial Crime, AML Director, Senior Financial Intelligence Unit Clarien Bank Limited Transaction Monitoring, Crime Advisor U.S. Bank Global IB Lead Commerzbank AG Barclays CO-SPONSORS: ASSOCIATE SPONSOR: CPE ACCREDITATION: [email protected] | +44 (0) 207 164 6582 / +1 888 677 7007 www.cefpro.com/global-fraud GLOBAL FRAUD & FINANCIAL CRIME | SEPTEMBER 15-17, 2020 | VIRTUAL EVENT CO-SPONSORS: Aerospike, the global leader in next-generation, real-time NoSQL data solutions, powers payment transactions and machine learning for fraud prevention at unprecedented speed, scale and low TCO.
    [Show full text]
  • Printed Version for Despatch to Shareholders (PDF: 9281KB)
    Stock Code: 2388 BOC Hong Kong (Holdings) Limited Annual Report 2009 52/F Bank of China Tower, 1 Garden Road, Hong Kong Website: www.bochk.com Solid FOUNDatIONS for SUSTAINABLE GROWTH Annual Report 2009 Theme Hong Kong’s modern cityscape is complemented by its wealth of natural resources. The formation of these world-class rock and geological features takes hundred million of years. Hong Kong Geopark helps ensure that our future generations will be able to enjoy the legacy of these beautiful natural wonders. The Group takes great pleasure in pioneering the “Hong Kong Geopark Charity Green Walk”, a key focus of our Corporate Social Responsibility (CSR) programme in the year ahead. Our commitment to CSR is at the heart of our long-term competitiveness, enabling younger generations to enjoy the natural environment we are endowed with, and contributing to the sustainable development of the economy, society and environment as a whole. By embracing CSR, we reinforce our vision of becoming the premier bank of choice and creating greater value for our customers, shareholders and employees. OUR VISION TO BE YOUR PREMIER BANK OUR MISSION OUR CORE VALUES Build Social Responsibility customer satisfaction and provide quality We care for and contribute to our communities and professional service Performance Offer We measure results and reward achievement rewarding career opportunities and cultivate staff commitment Integrity We uphold trustworthiness and business ethics Create values and deliver superior returns to Respect shareholders We cherish every individual Innovation Combining the initials of mission and We encourage creativity core values, we have Teamwork BOC SPIRIT We work together to succeed Be environmentally friendly for our better future: As a good corporate citizen, we do not use lamination as normally adopted by the industry in our Annual Report 2009.
    [Show full text]
  • Property Management Revenue from Property Management for 2003 Increased by 11.0% Over 2002 to HK$94 Million
    032 Executive management’s report Property review This caused revenue from investment properties for the year of our properties further and establishing them as a to decline slightly by 1% over 2002 to HK$888 million. benchmark for the industry in Hong Kong. Our staff performed outstandingly during the period of SARS For Two IFC, the quality of the office building and its to ensure shoppers’safety and mitigate the effects of the management enabled MTR to attract tenants despite the outbreak on public confidence. We also supported tenants lingering cautious sentiment resulting from SARS, the war in through aggressive promotion campaigns, including an Iraq and the weak economy. Considerable effort was taken attractive rebate promotion. Within this context, we took full to explain to potential tenants, agents and the business advantage of the relaxation of travel restrictions on tourists community the merits of the building, which is ideally suited from Mainland China through proactive, tailor-made to the sophisticated needs of multi-national corporations. programmes, such as organising shopping tours, designed The decision by Swiss banking giant UBS to lease seven floors to bring high spending Mainland visitors to our shopping represented one of the largest and highest profile relocations centres. These programmes proved successful in boosting of an office tenant in Hong Kong in 2003. UBS joined a growing the business turnover of our tenants. list of leading institutions in the building, including the Hong The Total Quality Service Regime, our pioneering customer Kong Monetary Authority, reinforcing Two IFC’s position as the service enhancement programme, and our computerised building of choice for top-tier corporations.
    [Show full text]
  • CISI Completes USD3BN Multi-Tranche Senior Bond Offerings for Chemchina
    PRESS RELEASE CISI Completes USD3BN Multi-tranche Senior Bond Offerings for ChemChina (Hong Kong, 13 July 2017) China Industrial Securities International Financial Group （“CISI” or the “Group”, stock code: 8407.HK）completed a Reg S USD3bn Multi- tranche senior unsecured bond offering (the “Transaction”) for China National Chemical Corporation (“ChemChina”) on 13 July 2017 as the Joint Bookrunner. The Transaction included USD500mm 3-year bond, USD1.5bn 5-year bond, and USD1.0bn 10-year bond, with coupon rate of 3%，3.5%，4.125% respectively. The expected rating of the senior bond is BBB by S&P and A- by Fitch, and will be listed on the Singapore Stock Exchange(SGX). Since ChemChina is a Chinese key state-owned enterprise, which is not common in international debt capital market year-to-date, the Transaction attracted extensive market attention in the roadshows. The order book of the three tranches were 3.9x oversubscribed, as the orders mounted to USD11.7bn with overwhelming demand from global investors, mostly from Asia and Europe. The final prices, which were 3.027% or T3+150bps，3.532% or T5+165 bps，4.178% or T10+185 bps respectively, tightened by 35 bps from the initial price guidance. The bond also received warm response in the secondary market, as the prices of all tranches rose after the completion of the issuance. CISI served as the Joint Bookrunner of the Transaction as well as the only overseas investment bank with PRC brokerage firm background in the syndicate group. Other syndicate banks in the Transaction included BNP PARIBAS, BOC International, China CITIC Bank International, Credit Suisse, HSBC (B&D), Morgan Stanley, Cr é dit Agricole CIB, Natixis, Rabobank, Shanghai Pudong Development Bank Co., Ltd.
    [Show full text]
  • Board of Directors and Senior Management Directors
    Board of Directors and Senior Management DIRECTORS Mr TIAN Guoli Chairman Aged 54, is the Chairman of the Board of Directors and the Chairman of the Nomination Committee of the Company and BOCHK. He is currently the Chairman and Executive Director of BOC and also a Director of BOC (BVI) and BOCHKG. Prior to joining BOC in April 2013, Mr TIAN served as Vice Chairman of the Board of Directors and General Manager of China CITIC Group from December 2010 to April 2013. During this period, he served as Chairman of the Board of Directors and Non-executive Director of China CITIC Bank. From April 1999 to December 2010, Mr TIAN successively served as Vice President and President of China Cinda Asset Management Company, and Chairman of the Board of Directors of China Cinda Asset Management Corporation Limited. From July 1983 to April 1999, Mr TIAN held various positions in China Construction Bank (“CCB”), including General Manager of sub-branch, Deputy Branch General Manager, Department General Manager of CCB Head Office and Assistant Executive President of CCB. Mr TIAN graduated from Hubei Institute of Finance and Economics in 1983 and was awarded a Bachelor’s Degree in Economics. Mr CHEN Siqing Vice Chairman (appointment as Vice Chairman effective from 25 March 2014) Aged 54, is the Vice Chairman of the Board of Directors and a member of the Remuneration Committee and the Nomination Committee of the Company and BOCHK. He is currently the Vice Chairman, Executive Director and President of BOC. He is also a Director of BOC (BVI) and BOCHKG.
    [Show full text]
  • Kuwait China Silk Road Development Fund 1 Initial Proposal DDR
    DRAFT Kuwait China Silk Road Development Fund 1 Initial Proposal DDR May 2016 0 Executive Summary • US$1.2 bn Kuwait China Silk Road Development Fund 1 (“Fund 1”) to be jointly sponsored by the designated investors Fund from the State of Kuwait (“Kuwait”) and the People’s Republic of China (“China”) • Fund 1 would be dedicated to invest in three selected strategic projects to support Kuwait to achieve its second five-year Development Plan 2015-2020’s (“Kuwait’s Development Plan“) vision of deepening the country's economic growth potential and economic diversification by moving away from a predominately oil-based economy • The selected projects are involved in sectors aligned with Kuwait’s Development Plan’s targeted sectors including power, renewable energy, desalination and waste management. The selected projects are: Objectives • Az–Zour North Phase 2 Independent Water & Power Project • The Kabd Municipal Solid Waste Project • Al Abdaliyah Integrated Solar Combined Cycle Project • Fund 1 would also support Kuwait’s Development Plan’s initiative to encourage the deployment of public-private partnership (“PPP”) framework to deepen the contribution of the private sector to the country's economic growth; spur private sector job creation; introduce economic efficiencies; and facilitate the adoption of new technologies and know-how DDR • The target size of Fund 1 will be US$1.2 bn • the State of Kuwait • Silk Road Finance Corporation (“SRFC”) to raise a significant portion from designated Chinese investors Commitment • China Communications
    [Show full text]
  • Annual Report 2008
    Stock Code: 2388 BOC Hong Kong (Holdings) Limited Annual Report 2008 FORTIFYING OUR FOUNDATIONS 52/F Bank of China Tower, 1 Garden Road, Hong Kong Website: www.bochk.com in a challenging environment Annual Report 2008 Theme 2008 was a highly challenging year for both the Group and Hong Kong. Our major focus has been to safeguard the Group’s financial strength and competitiveness. The Group, just like our great mother nature, has the regenerative strength to face the challenges ahead of us. This provides the theme for our annual report – “Fortifying our Foundations in a Challenging Environment”. By riding on our solid foundation and strong franchise, the Group is able to proactively realign our development strategy to capture growing opportunities from the changing industry landscape, creating brighter prospects for our stakeholders. OUR VisioN OUR MissioN OUR CORE VALUES Build Social Responsibility TO BE customer satisfaction We care for and contribute to our communities and provide quality and professional Performance YOUR service We measure results and reward achievement Offer Integrity PREMIER rewarding career We uphold trustworthiness and business ethics opportunities and BANK cultivate staff Respect commitment We cherish every individual Combining the initials of mission Create Innovation and core values, we have values and deliver We encourage creativity superior returns to BOC SPIRIT shareholders Teamwork Be environmentally friendly for our better future We work together to succeed As a good corporate citizen, we do not use lamination and spot UV as normally adopted by the industry in our Annual Report 2008. Instead, we use varnishing, an environmentally friendly technique. The whole report is also printed on recyclable and elemental chlorine-free paper.
    [Show full text]