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Annual Report on 22 March 2017

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Annual Report on 22 March 2017 China CITIC Bank Corporation Limited Important Notice The Board of Directors, the Board of Supervisors, (A joint stock limited company incorporated directors, supervisors and senior management of the Bank ensure that the information contained herein in the People’s Republic of China with limited liability) does not include any false records, misleading statements or material omissions, and assume Stock Code: 0998 several and joint liabilities for its truthfulness, accuracy and completeness. The meeting of the Board of Directors of the Bank adopted the full text and summary of the Bank’s 2016 Annual Report on 22 March 2017. All of the 10 eligible directors attended the meeting, with Director Mr. Chang Zhenming entrusting Chairperson Ms. Li Qingping to attend and vote as proxy. The supervisors of the Bank attended the meeting as non-voting participants. The Bank’s 2016 Annual Report prepared in accordance with the PRC Accounting Standards and the International Financial Reporting Standards (IFRS) were audited by PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers in accordance with the auditing standards of mainland China and Hong Kong SAR respectively, with both firms producing an audit report with an unqualified audit opinion. Ms. Li Qingping as Chairperson of the Board of Directors, Mr. Sun Deshun as President of the Bank, 30 Years of Persistence for Mr. Fang Heying as Vice President and concurrently 2016 Annual Report Chief Financial Officer of the Bank, and Ms. Li Peixia as General Manager of the Finance and Accounting a Sustainable Future with Enduring Credibility Department, hereby guarantee the truthfulness, accuracy and completeness of the financial report contained in the 2016 Annual Report. Profit Distribution Plan: Chapter 9 “Report of Board of Directors – Profit and Dividend Distribution” of the report discloses the Bank’s Profit Distribution Plan for 2016 as reviewed and adopted by the Board of Directors and to be submitted to the 2016 Annual General Meeting for deliberation. The plan proposes to pay a cash dividend of RMB2.15 per 10 shares (before tax). No scheme for transfer of capital reserve to share capital will be applied for the current year. Cautionary note on forward looking statements: Forward looking statements such as future plans and development strategies contained in the report do not constitute substantive commitments of the Bank to investors. Investors and relevant persons shall maintain adequate risk awareness of such statements and understand the differences between plans, projections and commitments. Material risk reminder: During the reporting period, the Bank was not aware of any material risk that would adversely affect its future development strategy and business targets. The Bank has detailed in this report the major risks that it was and may be exposed to in operation and management and its Strive to Be the Bank Offering countermeasures thereof. Please refer to “Risk Management” and “Outlook” in Chapter 8 the Best Comprehensive Financing Services “Management Discussion and Analysis” for relevant details. The terms the “Bank”, the “Company”, “CITIC Bank”, “China CITIC Bank” and “CNCB” mentioned in the report all refer to China CITIC Bank Corporation Limited while the term the “Group” mentioned in the report refers to China CITIC Bank 2016 Corporation Limited and its subsidiaries. The report is presented in RMB unless otherwise Address : No.9 Chaoyangmen Beidajie, Dongcheng District, Beijing specially noted. Postal Code : 100010 Annual Report Investor Hotline : +86-10-85230010 Website : www.citicbank.com Corporate Introduction China CITIC Bank was founded in 1987. It is one of the earliest emerging commercial banks established during China’s reform and opening up and also China’s first commercial bank participating in financing at both domestic and international financial markets. A keen contributor to China’s economic development, the Bank is renowned at home and abroad for brushing numerous track records in the modern Chinese financial history. In April 2007, the Bank simultaneously listed its A + H shares at the Shanghai Stock Exchange and the Stock Exchange of Hong Kong Limited. The Bank aspires to become “the bank offering the best comprehensive financing services”. To attain this strategic development vision, the Bank fully leverages on the unique competitive advantages of CITIC Group in placing financial and non-financial businesses on an equal footing, and at the same time holds firm to the core values of “client focus” and the business management concept of “compliance, smart, teamwork and efficiency”. For corporate customers and institutional customers, the Bank offers integrated financial solutions in corporate banking business, international business, financial markets business, institutional banking business, investment banking business, factoring business, and custody business. For individual customers, the Bank provides diversified financial products and services in retail banking, credit card, consumer finance, wealth management, private banking, going abroad finance and e-banking. As such, the Bank satisfies the needs of corporate, institutional and individual customers for comprehensive financial services on all fronts. As at the end of 2016, the Bank had 1,424 outlets in 138 large and medium-sized cities in China, and 4 subsidiaries, including CITIC Financial Leasing Co., Ltd., Lin’an CITIC Rural Bank Limited in mainland China, and CITIC International Financial Holdings Corporation Limited (“CIFH”) and CNCB (Hong Kong) Investment Co., Ltd. in Hong Kong. CITIC Bank International Limited (“CNCBI”), a wholly-owned subsidiary of CIFH, had 41 outlets in Hong Kong, Macau, New York, Los Angeles, Singapore and mainland China. In addition, the Bank has obtained CBRC approval for setting up Baixin Bank, an initiative jointly sponsored by the Bank and Baidu. 2017 marks the 30th anniversary of the Bank and 10th anniversary of its listing. The Bank has grown and expanded over the three decades. It is now an international financial institution that enjoys rich capital resources, strong comprehensive competitiveness and extensive brand influence, and registers more than RMB6 trillion total assets and nearly 60,000 employees. The Bank ranked the 79th among the “Top 2,000 Global Enterprises” published by the Forbes magazine in May 2016, and the 30th in terms of tier- one capital among the “Top 1,000 World Banks” published by The Banker magazine of the United Kingdom in July 2016. With its corporate growth at the intersection of past and future, the Bank will uphold its profit focus, maintain strategic strength and deepen business transformation in a bid to become “the bank offering the best comprehensive financing services” and create more value for shareholders. Contents Chapter 1 Definitions 2 Chapter 2 Corporate Introduction 4 Chapter 3 Financial Highlights 6 Chapter 4 Chairperson’s Letter to Shareholders 10 Chapter 5 President’s Letter to Shareholders 14 Chapter 6 Honors 18 Chapter 7 Business Summary 20 Chapter 8 Management Discussion and Analysis 23 Overview of the External Macro Environment 23 and the Bank’s Operating Results Analysis of the Consolidated Financial Statements 24 Business Overview 44 Risk Management 63 Capital Management 80 Management of Financial Statements Consolidation 81 Material Investments, Material Acquisitions, 82 and Disposal and Restructuring of Assets Information about Structured Vehicles 82 Controlled by the Bank Outlook 82 Management of Corporate Social Responsibility 85 Chapter 9 Report of Board of Directors 86 Chapter 10 Changes in Ordinary Share Capital and 103 Shareholdings of Substantial Ordinary Shareholders Chapter 11 Preference Shares 112 Chapter 12 Directors, Supervisors, Senior Management and Staff 115 Chapter 13 Corporate Governance Report 131 Chapter 14 Independent Auditor’s Report and Financial Report 153 Chapter 15 Reference for Equity Holders 281 Chapter 16 Corporate Structure 283 Chapter 17 List of Domestic and Overseas Affiliates 284 Chapter 1 Definitions Articles of Association Articles of Association of China CITIC Bank Corporation Limited Auditors PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers Baixin Bank CITIC Baixin Bank Corporation Limited Bank/Company/China CITIC Bank/CITIC China CITIC Bank Corporation Limited Bank/CNCB BBVA Banco Bilbao Vizcaya Argentaria S.A. BFAE Binhai (Tianjin) Financial Assets Exchange Company Limited Board of Directors/Board Board of Directors of the Bank Board of Supervisors Board of Supervisors of the Bank CBRC China Banking Regulatory Commission Central Bank/PBOC The People’s Bank of China China AMC China Asset Management Co., Ltd. China Construction Bank China Construction Bank Corporation China Securities China Securities Co., Ltd. China Tobacco China Tobacco Corporation CIAM CITIC International Assets Management Limited CIFH CITIC International Financial Holdings Limited CITIC Corporation Limited CITIC Corporation Limited (formerly known as CITIC Limited prior to renaming in August 2014) CITIC Environment CITIC Environment Investment Group Co., Ltd. CITIC Financial Leasing CITIC Financial Leasing Co., Ltd. CITIC Group CITIC Group Corporation Limited (formerly known as CITIC Group Corporation prior to renaming in December 2011) CITIC Industrial Investment CITIC Industrial Investment Group Co., Ltd. CITIC Limited CITIC Limited (formerly known as CITIC Pacific Limited prior to renaming in August 2014) CITIC Press CITIC Press Group Limited CITIC Securities CITIC Securities Co.,
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