OREANDA-NEWS. June 09, 2011. China Banking Association (CBA) held its 10th Membership Meeting in Beijing, on which the new Council, Standing Council and Board of Supervisors were elected. Chen Yuan, Chairman of China Development Bank, and Hu Huaibang, Chairman of Bank of Communications, were elected as Chairman and Chairman of the Board of Supervisors of CBA, respectively, reported the press-centre of CDB.

This meeting reviewed and adopted the Work Report of the 5th Council, the Report on Implementation of the China Banking Association 2010 Financial Budget and 2011 Financial Budget Plan, and the Amendment to Charging Methods for Membership Fee of the China Banking Association.

Liu Mingkang, Chairman of the China Banking Regulatory Commission (CBRC), acknowledged the achievements made by CBA in recent years in his speech of congratulation. He pointed out that CBA had performed enormous and effective work in regulating market order, protecting industrial interest, training professional talents and providing high-end services. He expected CBA to further optimize its internal governance, better service the banking industry reform, guide banking institutions to play a more important role in boosting the strategic adjustment of economic structure and the development mode transformation and in serving the national welfare and the people's livelihood, so as to provide greater contribution to the stable and sound development of the national economy.

Wang Huaqing, Disciplinary Commissioner of the CBRC, indicated that CBA had actively fulfilled its functions in terms of self-discipline, protection of rights and interests, coordination and services under the guidance of the 5th Council, and had made notable achievements in leading the industrial reform and promoting the sustainable development of the banking industry. He expected that in the first year of the 12th Five-year Plan period, CBA could effectively perform its function as an industrial association and lead the banking industry to deepen the implementation of the scientific outlook on development, improve risk management capacity and competitiveness of the industry as a whole, actively support the sound and fast development of the national economy, and realize the sustainable development of the banking industry.

Li Yong, Deputy Director of the Non-Governmental Organization Administration of the Ministry of Civil Affairs, expressed his expectations for CBA. The association should firmly follow the path of marketization, internationalization and professionalization under the guidance of the new Council. It should facilitate the establishment of a system of self-discipline and good faith within the industry, continuously expand its service functions, and actively promote the fulfillment of social responsibility in the banking sector, so as to make due contribution to the promotion of the sound and scientific industrial development, prosperity of the socialist market economy and building of a harmonious society.

Zhao Lin, representative of the Chairman of the 5th Council, Deputy Secretary of the Party Committee and Chairman of the Board of Supervisors of Industrial and Commercial Bank of China, presented the work report of the 5th Council. As pointed out in the report, in recent years, with a focus on fulfilling its four core functions, CBA led the banking industry in reform and opening up, scientific development, self-governance enhancement, team building and establishment of a high-end industrial association brand, and had therefore been highly recognized by the industry and the society. 2011 is the first year of the 12th Five-year Plan period. The banking industry, undertaking the great mission of supporting the economic growth and promoting the transformation of economic development mode, is facing a series of new challenges and opportunities in its development. CBA is obliged to perform its functions in line with the new conditions and make new progress.

Chen Yuan, Chairman of the 6th Council, made his inauguration speech. He indicated that the Council, facing the new conditions, new missions and new requirements of China's economic and financial reform and development, would implement faithfully the spirit of the 5th Plenary Session of the 17th CPC Central Committee, the Central Economic Work Conference as well as the National People's Congress and the Chinese People's Political Consultative Conference. With scientific development as the core subject, the acceleration of development mode reformation as the focus, CBA would concentrate on its tenet and the core missions of the banking industry, and earnestly fulfill its functions represented as "self-discipline, protection of rights and interests, coordination and services". It would also keep innovating work concept and approaches, better perform its role as a bridge to centralize the strengths of the members and lead the scientific development of the banking industry.