OREANDA-NEWS. December 19, 2012. ICBC's CPC Party Secretary and Chairman Jiang Jianqing presided over an ICBC Party Committee to uphold the central premise of the 18th CPC National Congress and advise on specific and practical measures to be taken in line with the Congress's principles. Another meeting will be held on November 16 for ICBC branches' CPC party secretaries, managers of all departments at the Head Office and direct subsidiaries to understand the principles laid down in the 18th National Congress and come up with suggestions and measures to be taken. Drawing reference from the theme of the 18th CPC National Congress, ICBC will also open a meeting in December this year to discuss the Bank's growth strategy and define far-sighted working approaches and main measures for next year and foreseeable future.

All branches should elevate the principles of 18th CPC National Congress ("Principles") as the top political priority. All ICBC staff should adhere to and continue acting consistently towards the Principles. ICBC CPC Committee urges Head Office, branches, ICBC Leaders, senior officials and party members to include the Principles in education and training at the earliest so that all ICBC employees understand the Principles. All branches should work harder and make more contribution to build China into a moderately prosperous society by offering even better services.

At the meeting on the afternoon of November 15, ICBC CPC Party Committee tentatively stated out three points:

I. Align financial services referencing the great economic and social progress and valuable experience gained since 16th CPC National Congress. Advocate socialism with Chinese characteristics and move forward with self-confidence, self-discipline under Scientific Outlook on Development. ICBC CPC Party Committee reviewed the progress over the past five years and the efforts of China Communist Party stated in the Report since the 16th CPC National Progress. The past decade witnessed the historic accomplishments of China's reform. ICBC like all others in China also went through historic changes. Today, ICBC is the world's largest bank by market value, customer deposit and brand value, a top listed bank with sound corporate governance and strong risk capability. The success owes very much to ICBC effort under Scientific Outlook on Development. ICBC CPC Committee urges all branches to understand the Principles and embrace the Scientific Outlook on Development on the basis of practice-based theoretical innovations. Seeing over the horizon on a broader canvas to be a world-class modern financial firm, ICBC branches should stride ahead and be creative with full confidence following Chinese socialism path.

II. Follow the objectives and mission of 18th National Congress to "promote economic, political, cultural, social, and ecological progress" to achieve higher and better progress. All ICBC branches are required to follow Congress's objectives of building a moderately prosperous society, further reform and opening to the world, and the agenda to "promote economic, political, cultural, social, and ecological progress" and Party's Building. China's economic and social development is always the first priority. Take all necessary steps to improve services and make active contribution to fulfill the objectives and mission of 18th National Congress. The 18th CPC National Congress stated out the requirement of "Serving the real economy". Under China's macro economic policy, ICBC branches are required to build a sound loan portfolio by lending the right amount to the target recipients at the right time. Make sure loans to real economy are used in key areas and weak sector for economic progress. The focus is to provide support and serve the growth of real economy on par with the economic restructuring, informatization, urbanization and agricultural modernization. "Ecological progress" has been incorporated into the overall development plan. "Green Bank" is a long-term strategy of ICBC. All ICBC branches should execute this strategy to be a leading "Green Bank" for low-carbon transition emphasizing recycling. In response to the requirement of protection and improvement of people's livelihood, efforts should be spent on the delivery of financial services for all, turning ICBC into a bank most satisfied by all. Under "Scientific Development", all ICBC branches should shift course aiming at bringing efficiency, collaboration and sustainable development. Against a backdrop of global financial crisis, attention should be paid on the implementation of new capital management measures and the changes in different risks amid taxing economic conditions. The top priority is to control financial risk, preserve and add value to state-owned assets, protect the benefits of depositors and investors, more important, maintain the stability of China's economy and banking sector. Step up the reform and innovation on key areas and critical segments while concentrating on the development and launch of ICBC innovative products and service for everybody.

III. Draw up strategic approaches and measures for another round of ICBC "Scientific Development" under the Principles. All ICBC branches should define far-sighted and comprehensive overall approaches and main measures for next and upcoming few years for the healthy and sustainable growth of the Bank. The new plan should be in line with the ambitious goal stated in the 18th CPC National Progress to turn China into a moderately prosperous country by 2020, and to "promote economic, political, cultural, social, and ecological progress". Items of strategic concern are to oversee a transformation and step up reform on mechanism for globalization and integrated operation through service improvement, financial innovation and Party building.