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On April 25th, Postal Savings Bank of China (“PSBC”) released 2018 Social Responsibility (Environment, Society and Governance) Report, which had fully shown its practices and results of work concerning social responsibilities.
In 2018, PSBC adhered to the position of serving communities, small and medium-sized enterprises and “Sannong”, held fast to the foundation of finance to serve the real economy, implemented deeply the retail banking strategy, continued to enhance sustainable development capability, and kept pace with the coordinated development of economy, environment and society. On the whole, PSBC took a solid step on the path of high-quality development.
Fulfilling the responsibility as a big state-owned bank and sparing no effort to serve economic development
As a large state-owned commercial bank, PSBC spared no effort to serve national strategies. PSBC provided financial support to national key strategies and major projects such as the coordinated development of Beijing, Tianjin and Hebei, the construction of Xiong’an New Area, the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the development of the Yangtze Economic Belt, and facilitated the implementation of national strategic layout and the transformation and upgrading of the economic structure.In the meantime, PSBC actively supported all-round opening-up and “going global” of enterprises, served the construction of the Belt and Road,actively communicated with financial institutions in the countries and regions along the Belt and Road and focused on expanding correspondent banking network along the Belt and Road.The Report showed that as at the end of 2018, PSBC had established 930 correspondent banks, covering 40 countries and regions along the Belt and Road, to support “inviting in” and “going global” through diversified cross-border financing. PSBC granted over RMB650 billion loans to support the coordinated development of Beijing, Tianjin and Hebei, the construction of the Belt and Road and the development of the Yangtze Economic Belt.
In 2018, PSBC actively built a platform for cooperation with banks, governments, associations and enterprises, strengthened policy and resource tilt, worked hard to meet the financial needs of private enterprises and small and micro enterprises, promoted the “financing + knowledge introduction” model, gave full play to the advantages of science and technology, reduced fees for customers and let them benefit more, integrated many resources to jointly support private enterprises and small and micro enterprises, and further resolved the difficulties and high costs of financingto facilitate their sustainable and sound development.According to the Report, as at the end of 2018, PSBC fully completed the regulator’s requirements of “two growths and two controls” regarding the loans to small and micro enterprises with good asset quality; the balance of loans to inclusive small and micro enterprises was RMB544,992 million; the total loans granted during the year recorded RMB477,445 million, with a net increase of RMB80,084 million, which benefited 1,457,700 small and micro enterprises, up by 231,00 from the end of the previous year.
In serving rural revitalization, PSBC continued to improve the systems and mechanisms of the Sannong Finance Department, actively built a coordinated agriculture supporting ecosystem, established a product system with five major agricultural loans, strengthened the application of Internet technologies, and gave great support to the key areas of rural revitalization such as national food security and supply of agricultural and sideline products, integration of primary，secondary and tertiaryindustries, organic integration of small farmers and modern agriculture, beautiful rural construction.According to the Report, as at the end of 2018, the balance of agriculture-related loans of PSBC was RMB1.16 trillion, an increase of RMB107,286 million from the end of the previous year; the balance of personal operating loans featured by peasant household credit and agriculture-related merchant credit was RMB557,126 million, in the forefrontamong national commercial banks; the accumulated micro loans granted was nearly RMB1.62 trillion, and the loan balance was RMB176 billion, with an average amountper transaction of only RMB70,000.
In assisting poverty alleviation, PSBC adhered to the “Trinity” general poverty alleviation pattern, combining specialized poverty alleviation, poverty alleviation through industries and poverty alleviation through society, strengthened the top-level design of targeted poverty alleviation via financial services, and formed a social joint force through combination of advantages. Considering local conditions in poverty-stricken areas, PSBC developed “Village-stationed first secretary Cooperation Model”, “Platform Cooperation Model”, “Industry-leading Model”, “Able Person Driving Model” and “Credit Village Model”. PSBC attached importance to combining poverty alleviation with aspiration and intelligence building, and transformed targeted poverty alleviation from “blood transfusion” survival to “hematopoiesis” development, which enhanced the sustainability of targeted poverty alleviation via financial services.The Report showed that as at the end of 2018, the balance of loans for targeted poverty alleviation via financial services of PSBC (including loans to people who have already got rid of poverty) was RMB93,858 million, up by 52.46% from the end of the previous year; from 2015 to the end of 2018, PSBC granted RMB167.3 billion micro loans in 832 national key poverty-stricken counties, serving nearly 1.73 million person-times.
Actively developing green finance and supporting the building of a beautiful China
Civilization rises or declines with ecology.Practicing green development to protect the ecological environment is another important part of corporate social responsibilities.PSBC adhered to the concept of green development, actively built a first-class green bank with strong influence and sustainable development capabilities, and supported the construction of ecological civilization.
Specifically, PSBC incorporated the concept of green development into its corporate governance framework, and continued to improve the environmental, social and corporate governance risk management system based on international wisdom and experience on the development of green finance; PSBC gave great support to green, low-carbon, circular economy, tilted resources toward industries of energy conservation, emission reduction, green and environmental protection, actively innovated green financial products and services, continued to improve comprehensive service capability for green finance, and provided strong financial support to the construction of ecological civilization; adhering to the “whole-process, all-factor, all-round, full-coverage” principles, PSBC put forward specific environmental and social risk management requirements for all stepsof credit business including due diligence, examination and approval, contract signing, loan granting review and post-lending management, strengthened environmental, social and corporate governance risk management by defining department responsibilities, management mechanisms, process tools, system control, information disclosure, etc. in the whole process of credit business, so as to identify, measure, monitor and manage environmental, social and corporate governance risks more effectively.
The Report showed that as at the end of 2018, the balance of green loans (loans to energy conservation and environmental protection projects and services) of PSBC was RMB190,405 million, up by 15.47% from the end of the previous year, making contributions to the building of a resource-conserving, environment-friendly society and of a beautiful China.
Adhering to the people-oriented principle and building a better life together
PSBC has always attached importance to and cared about employees’ development. PSBC strictly abided by relevant laws and regulations and protected employees’ legal rights and interests. PSBC carried out all-round, multi-level training activities to improve employees’ vocational skills and professional qualities. With employees’ physical and psychological health in mind, PSBC carried out a rich variety of activities to create a positive and harmonious working atmosphere for employees.
In terms of customer service, PSBC paid attention to financial innovation through technological empowerment, continued to improve product and service systems, established and optimized a whole-process consumer rights protection system, carried out financial knowledge popularization activities and continued to improve customer experience.According to the Report, as at the end of 2018, PSBC had 277 million e-banking customers and 218 million mobile banking customers, 8,440 outlets with wheelchair accessible passages and over 7,900 intelligent teller machines; the 95580 Customer Service Center served 145 million calls through all channels throughout the year.
In terms of social charity, PSBC gave play to the function of “PSBC Love Charity Platform” and actively participated in charity and volunteer service activities. The Report showed that in 2018, “PSBC Love Charity Foundation” raised over RMB9 million.As at the end of 2018, PSBC had set up “PSBC Love Class of Self-Commitment” in high schools in 33 poverty-stricken counties across China, subsidized 1,650 poor high school students through “PSBC Love Charity Foundation” and granted “PSBC Love Scholarship” to over 750 poor high school graduates who were admitted by universities.
As for next-step work, PSBC will continue to stick to the new development concept, resolutely serve the real economy, prevent and control financial risks, promote transformation and upgrading, continue to deepen reforms, create new development advantages, strive to open a new chapter in high-quality development, create greater value for investors, customers, employees and society, and make new contributions to promoting economic and social development and meeting people’s need for a better life.
Extracted from National Business Daily