OREANDA-NEWS. August 31, 2011. The presentation for celebrating the deposits of Jiangsu Branch over RMB1 trillion and plans supporting the development of innovative economy in Jiangsu Province was held in Nanjing. Mr. Xiang Junbo, Secretary of the CPC Committee and Chairman of ABC, and Mr. Li Yunfeng, member of the Standing Committee and Secretary General of the CPC Jiangsu Provincial Committee, and Executive Vice Governor of Jiangsu, were present and unveiled the plan. Mr. Guo Haoda, member of the CPC Committee and Vice President of ABC, was also present.

Before the presentation, Mr. Luo Zhijun, Secretary of the CPC Jiangsu Provincial Committee, and Mr. Li Xueyong, Governor of Jiangsu, respectively met with Chairman Xiang Junbo and Vice President Guo Haoda, and gave their full recognition and appreciation to ABC for its contribution to Jiangsu in building a moderately prosperous society and realizing modernization. Chairman Xiang Junbo said ABC would further contribute to Jiangsu's development of an innovative economy by strengthening support for cultivating innovation capability, leading transitional upgrade, optimizing industrial layout, enhancing emerging industries and balancing urban and rural development of Jiangsu, reported the press-centre of ABC.

When ABC Jiangsu Branch was restored in 1979, its deposits was merely only RMB320 million in total. With the economic development, transition and upgrade in Jiangsu, the branch has been witnessing a leapfrog growth in its deposits. In 1987, the branch had deposits of over RMB10 billion; however, it took only 11 years to grow by ten times; and less than 13 years to further grow to the current RMB1 trillion.

Aiming to build an excellent large listed bank, ABC Jiangsu Branch designs a development strategy in the spirit of "imposing pressure on ourselves to compete with other banks for the first place and contribute to ABC". This strategy focuses on "developing market competitiveness and internal management capability to be the best and building a mainstream urban bank, a leading county bank and the largest and strongest retail bank". As a result, the management foundation has been strengthened and all its businesses are enjoying strong, quality, coordinated and comprehensive development.

By the end of this June, Jiangsu Branch had deposits of RMB1,025.1 billion, accounting for 15.2% of the total deposits of Jiangsu banks, making it the first among Jiangsu banks and ABC branches to get deposits of more than RMB1 trillion. Meanwhile, it had RMB and foreign currency loans of RMB584.9 billion, an increase of RMB47.2 billion over the beginning of this year, accounting for 12.3% of the total loans of Jiangsu banks. It also topped all of its Jiangsu peers in terms of the scale and increase of RMB and foreign currency deposits, savings deposits, public deposits and loans, and intermediary service income, making it the bank with the largest asset size, profoundest customer base and most outlets in Jiangsu.

ABC Jiangsu Branch is one of the first provincial branches among its peers in the province to design a plan supporting the development of innovative economy of Jiangsu. It is reported that ABC Jiangsu Branch has set objectives for the development of industry, customers, products and credit operation based on the pans for multiplying emerging industries, accelerating service industry and reforming conventional industry.

Moreover, it has designed three financial service systems, implemented relevant policies and regulations, improved product innovation mechanism and optimized resource allocation. Through all these efforts, the branch has realized favorable interaction between financial and technological innovation, and efficient connection between financial and technological resources, and inner capability forming of supporting the innovative economy.

Vice President Guo Haoda expressed gratitude to the CPC Jiangsu Provincial Committee, Jiangsu Provincial Government and all sectors of the society for their long-lasting trust, care and support given to ABC. He pointed out that ABC had been supporting and paying close attention to the development of Jiangsu, a fertile territory for the financial industry.

Taking Jiangsu as an important province of its strategic cooperation and a key supported area of business development, ABC will provide powerful policy support in respect of credit plans, resource allocation, authorization and credit facility, and prioritize the development need of the province. Meanwhile, ABC will carry out in-depth strategic cooperation in urban and rural integration, ecological construction and safeguarding people's livelihood etc., pursuant to national macro economic policies, industrial policies and credit policies and the economic features of Jiangsu. It will also give full play to its pillar function as a large-scale listed bank to further contribute to Jiangsu's initiatives in scientific and harmonious development.