The 20th National Congress of the Communist Party of China drew up a grand blueprint for comprehensively building a socialist modern country and comprehensively promoting the great rejuvenation of the Chinese nation with Chinese-style modernization, sounding the clarion call of the times for a new journey.
This year is the first year to fully implement the spirit of the 20th National Congress of the Communist Party of China.
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, Bank of Communications earnestly studies and implements the spirit of the 20th National Congress of the Communist Party of China and the spirit of the Central Economic Work Conference, and deeply understands the important connotation and significance of Chinese-style modernization. The deployment requirements of building a new development pattern and promoting high-quality development, unswervingly follow the path of financial development with Chinese characteristics, and resolutely shoulder the financial mission of serving Chinese-style modernization.
Promote high-quality development
Improve the quality and efficiency of serving the real economy
The report of the 20th National Congress of the Communist Party of China pointed out that the focus of economic development should be placed on the real economy.
The Bank of Communications actively helps play the key role of investment, supports the accelerated advancement of infrastructure construction in key areas, and adheres to the overall arrangement of "authorization can be granted to the fullest, resources should be allocated to the fullest, and credit will be reviewed immediately upon arrival".
At present, the Bank of Communications has completed the approval of nearly 300 billion yuan of supporting financing for policy-based developmental financial instruments, and has achieved efficient investment in transportation, energy, municipal administration, industrial parks, agriculture and rural areas, and new infrastructure.
The Central Economic Work Conference emphasized the need to speed up the construction of a modern industrial system.
Focusing on the revitalization of the manufacturing industry, the Bank of Communications specially launched the "Bank of Communications' Action Plan for Supporting Manufacturing Power", focusing on lending in key areas and giving resources to them, and supported a number of key projects in advanced manufacturing fields such as integrated circuits, artificial intelligence, and high-end equipment.
Focusing on self-reliance and self-improvement in serving high-level technology, the Bank of Communications gives full play to its advantages in comprehensive operation, actively explores a full-cycle financial service technology innovation model, and continues to provide financial support for the development of strategic emerging industries such as new-generation information technology, new energy, and new materials.
Bank of Communications Building
In January 2023, Bank of Communications' RMB corporate loans increased by more than 230 billion yuan, an increase of 5.51% from the beginning of the year, and the incremental growth rate hit the highest level in three years.
Among them, key areas such as manufacturing medium and long-term loans, green credit, and strategic emerging industry loans have all achieved year-on-year growth.
Practicing finance for the people
Meet people's needs for a better life
Since the beginning of this year, the continuous recovery of the consumer market is gratifying.
The Bank conscientiously implements the spirit of the Central Economic Work Conference, prioritizes the recovery and expansion of consumption, and deeply embeds financial services into customers' daily consumption life.
During the Spring Festival, Bank of Communications credit card consumption was active, and the average daily transaction volume of online payment platforms such as travel increased by 130% compared with the same period last year.
In the next step, Bank of Communications will also innovate and upgrade consumer loan products in various scenarios, so that consumers can "afford and get loans".
Customers experience convenient services at Bank of Communications pension service demonstration outlets
The report of the 20th National Congress of the Communist Party of China pointed out that the realization of the people's yearning for a better life should be taken as the starting point and goal of modernization.
For the "one old and one new" customer group, the Bank of Communications has continuously improved its service system.
Build a pension financial business platform covering pension planning, account services, investment transactions, and taxation processing, and at the same time promote the construction of "Bank of Communications Pension Service Demonstration Outlets" and the transformation of mobile banking for aging.
In order to better serve the needs of new citizens for entrepreneurship, employment, housing, education, and medical care, more than 40 products and services have been launched, such as affordable rental housing loans for new citizens, guaranteed loans for entrepreneurship, and "elite" benefiting people's loans. New citizen groups such as courier riders have customized and developed exclusive insurance products.
Develop green finance
Promote the harmonious coexistence of man and nature
Bank of Communications thoroughly implements the new development concept, regards green as the background color of the operation and development of the whole group, and serves the green transformation of the economy and society with high quality.
The "Bank of Communications Action Plan for Serving Carbon Peak and Carbon Neutrality Goals" formulated in 2022 clearly proposed 16 specific actions including optimizing the credit structure and serving the green and low-carbon transformation of energy.
In recent years, the Bank of Communications has continued to improve the quality and efficiency of green financial supply, making comprehensive use of indirect financing, direct financing, the People’s Bank of China’s carbon emission reduction support tools and policy resources such as refinancing to support clean and efficient use of coal, and increasing its investment in clean energy, green manufacturing, green buildings, With strong support for green transportation and other fields, green credit and green bonds have achieved rapid growth, and green investment and financing business has achieved multiple breakthroughs.
Facing the future, Bank of Communications will continue to make efforts in product services, policy procedures, risk management and control, etc., to better meet the financial needs of various entities in green investment and financing, green consumption, and low-carbon transformation, and further exert the role of finance in "accelerating development". Participation and amplification of green transformation.
Innovative cross-border services
Help expand high-level opening up
High-quality development requires a high level of openness.
Bank of Communications leverages its advantages in integrated domestic and overseas offshore and onshore operations to provide enterprises with cross-border, cross-industry, and cross-market comprehensive services, helping to build a new "dual cycle" development pattern.
Bank of Communications actively connects with platforms such as cross-border e-commerce, comprehensive trade services, and market procurement to open up new channels for international trade for new business customers, especially inclusive small and micro foreign trade enterprises, and support the accelerated development of new business models and models of foreign trade.
In 2022, the business volume of the Bank's new foreign trade business will increase by more than 500% year-on-year.
Bank of Communications Guangdong Branch supports the construction of Jieyang Shenquan Offshore Wind Power Project
This year marks the tenth anniversary of the joint construction of the "Belt and Road" initiative.
The joint construction of the "Belt and Road" has grown from a dream seed to a towering tree.
Currently, Bank of Communications has set up 8 overseas banking institutions in the countries along the “Belt and Road”, and at the same time continues to expand the “circle of friends” of peers along the “Belt and Road”. It has established an overseas banking service cooperation network with 550 banks in 92 countries and regions.
In addition, Bank of Communications also took the initiative to meet the financial service needs of all parties along the route, and participated in syndicated loan projects such as Egypt New City and "Wanwan Expressway". Contribute to the construction of the "Belt and Road" financial artery.
(People's Political Consultative Conference News)