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PSBC Stays True to the Original Aspiration of Promoting Poverty Alleviation via the PSBC Love Charity Platform

Date: 2018-10-23

“Children would attentively listen to your stories about the outside world, and would also tell you their dreams with excitement.” Cao Jing, an employee of PSBC Beijing Branch said so when talking about children in Tongyu County, Jilin Province.

On September 5, 2018, PSBC Love Charity Team set out again. 120 representatives paid a visit to financially strapped students in PSBC Love Class of Self-Commitment of eight schools in poverty-stricken counties, including No.1 Middle School of Weichang Manchu and Mongol Autonomous County, Chengde City, Hebei Province, No.1 Middle School of Pengyang County, Guyuan City, Ningxia Hui Autonomous Region and Minzu Middle School of Lancang County, Pu’er City, Yunnan Province.

In fact, this isn’t the first time for many poverty-stricken students to see these volunteers from PSBC. This time, volunteers not only brought gifts and daily necessities, but also played, dined and attended classes with these students. They shared experience in their pursuit of studies and visited poverty-stricken student families in person. A-mei, a sophomore from Minzu Middle School of Lancang County wrote in her letter to volunteers, “Thank you for your help, but I am more grateful for the chance to get to know you, dear friends from afar.”

Pooling resources to promote sustainable development of charity cause

PSBC Love Charity Platform is an open public welfare platform which was officially launched at the 10th anniversary of PSBC on March 20, 2017. The vision of PSBC Love Charity Platform is: adhering to the concept of inclusive finance, pooling social forces, awakening public awareness of charity, conveying humanistic care, promoting the development of Chinese public welfare in a diversified and sustainable way and making it a common practice, and striving to become an innovator and practitioner in China’s charity cause.

Since the establishment of PSBC Love Charity Platform, the Bank has initiated the PSBC Love Charitable Foundation with China Foundation for Poverty Alleviation (“CFPA”). The Bank has donated RMB5 million in the first phase. Together with the donations from its staff and the public, the PSBC Love Charity Foundation has raised more than RMB11 million as of the end of 2017.

At present, the PSBC Love Charity Platform is fully open to the government, enterprises, social organizations and public-spirited people, and has built an open and transparent management mechanism for operating the Platform. Through sharing with the public, it has introduced external partners and continuously enriched and improved the coverage and operation mode of PSBC Love Charity Platform to enhance its value.

In order to enrich the fund-raising channels, the Bank has built an online and offline interconnected fund-raising platform covering physical outlets, personal online banking, mobile banking, and WeChat banking, and opened the PSBC Love Charity Foundation donation portal to employees and the public.

In addition to donations, the Bank also launched the PSBC Love Growth Plan. Through the PSBC Love Charity Foundation, the Bank set up PSBC Love Class of Self-Commitment in high schools in 34 poverty-stricken counties in 19 provinces across the country, and have subsidized a total of 2,459 poor high school students up to now, including granting PSBC Love Scholarship to 759 high school graduates who have been admitted to colleagues so that they can pursue further studies.

PSBC Love Charity Platform helps poverty-stricken students fulfill their dreams

Among the poor students visited by the volunteers this year, there are Xin Yang with outstanding academic results from Honghe Town, Ningxia Autonomous Region; Yu Ying who lives in Baicheng City, Jinlin Province where 1/3 of the land is saline-alkali land and wants to become a doctor in the future; and A-mei, a girl of ethnic minorities from Lancang Lahu Autonomous County along the border of Southwest China. Their families are low-income ones either because of the death or serious illness of family members or due to poor living conditions.

While it’s difficult to lift impoverished areas out of poverty overnight, children still harbor big or small dreams in their hearts. Every student is the hope of their own family. “Helping you to achieve your dreams is our greatest satisfaction.” Volunteers said to the students who were in the second year when they visited Pengyang County No. 1 Middle School.

PSBC Love Charity has changed the traditional practice of public welfare which only consists of donation and short-term assistance. Instead, it has devoted more efforts by giving more attention and creating better conditions for the growth and success of poor students.

It is reported that the PSBC Charity Association of Volunteers has recruited more than 60,000 members from within the bank, and designated March 20 as the PSBC Charity Day on which activities are organized to promote the welfare culture and foster a favorable environment for charities. The PSBC Charity Association of Volunteers has organized charitable activities for two consecutive years, and has visited the students and families in poverty-stricken areas, ensuring that its charity work are focused and will sustain. In 2017, the PSBC Charity Association of Volunteers organized a group of 127 philanthropists and representatives of charity teams to visit students of the PSBC Love Class of Self-Commitment and went to 9 poverty-stricken counties to visit 54 impoverished students and families.

Giving full play to its advantages, fulfilling responsibilities and giving back to the society

In addition to education-backed poverty alleviation, the PSBC Charity Foundation is also used to provide better healthcare, help farmers increase their income, address the problem of returning to poverty due to disasters, and encourage internationalization and communications of public welfare.

It is learned that the Bank currently has approximately 40,000 outlets, more than 70% of which are distributed in the county area, serving 565 million individual customers and providing organizational support for the implementation of public welfare projects in various fields. Employees have devoted a lot of time and efforts in the urban and rural areas and have established a close tie with people there so that the Bank knows the status quo of those disadvantaged groups and provide the manpower to go beyond the “last mile” in charitable services. More than 500 million customers and many powerful domestic and foreign partners have provided a solid foundation for the long-term development of PSBC Love Charity Platform to be bigger and stronger.

Since its establishment, the Bank has always been devoted to serving the “agriculture, rural areas and farmers”, small and medium-sized enterprises and the community, and works hard to improve the availability of financial services. In particular, it has been earnest in providing basic rural financial services, such as actively participating in the promotion of new rural pension insurance and new rural cooperative medical care. It has also made efforts to increase credit support for farmers and new agricultural business entities, promote exclusive products such as micro loans for farmers and family farm loans. As of the end of June 2018, the balance of personal operational loans of the Bank was RMB541.3 billion, ranking top among national commercial banks.

The Bank’s positioning and pursuit, its corporate culture and the spirit of public welfare provide a powerful intrinsic motivation for the development of the PSBC Love Charity Platform. The Platform is a major initiative of the Bank to fulfill its social responsibilities and support the charity cause. It embodies the corporate social responsibility of the Bank as a large-scale retail commercial bank.

In the meantime, as an active practitioner of inclusive finance, the PSBC Love Charity Platform is also an important way for PSBC to respond to the call of the Party Central Committee in winning the battle against poverty. As of the end of June 2018, the balance of targeted poverty alleviation loans of the Bank exceeded RMB50 billion, of which the balance of personal targeted poverty alleviation loans was RMB16.4 billion.

The Bank’s charity cause has received extensive attention and recognition from the society and the media. Since its inception, the PSBC Love Charity Platform has been awarded the “Corporate Social Responsibility Example of the Year 2017”, and the Bank has been awarded the “2017 China Outstanding Enterprise Award in Corporate Social Responsibility” and the “Outstanding Public Welfare Medal of the Year 2017”.

Quoted from

October 23, 2018