China Construction Bank (CCB) is a state-owned commercial bank. Headquartered in Beijing China, CCB conducts operations across the territory of China as well as in major international financial centres. China Construction Bank was established in October 1, 1954 against the background of the implementation of the first five year National Economic Plan. CCB began its operations with a critical role in managing the huge investment funds for 156 key construction projects that were to be implemented nationwide under the five year plan.
During the period from 1954 to 1978, CCB had performed the following functions:
- As a fiscal agent for the government and related enterprises, managing the disbursement of the budgeted investment funds;
- Overseeing the utilization of the funds to protect their intended purpose;
- Extending short term liquidity loans to the projects;
- Providing basic settlement services to the projects.
Growing along with the People’s Republic, China Construction Bank made tremendous contributions to improving the efficiency of government investment, supporting the fiscal balance, and promoting the rapid growth of China’s economy. Beginning in late 1970’s and early 1980’s, China Construction Bank steadily expanded into new lines of banking business. New products and services offered included credit loans, household savings deposit, foreign exchange services, credit card, housing reform related financing and home mortgage financing etc. Our reform measures and growth strategies bore great fruits; during this decade, CCB realized a 10 fold expansion in the size of its balance sheet with each line of business having recorded a stunning expansion.
This period also witnessed a significant transformation of CCB’s role from a sole treasury agent for basic construction funds into a state-owned bank specialized in medium and long term credit businesses while conducting a broad spectrum of banking activities. 1994 marked a turning point in CCB’s history. As a part of the measures by the government in reforming financial and investment systems, CCB handed over its traditional fiscal agent function and its policy oriented lending to the Ministry of Finance and the newly established China Development Bank (CDB), respectively. It was from this point that CCB started to reform its operations across the board to prepare for a complete transformation into a modern commercial bank. Since late 1994, CCB has made significant reforms in its treasury management, credit management, financial control and accounting systems.
The head office and first level branches have greatly enhanced the management of credit funds in a centralized way; financial and accounting system has been aligned with international standards. Meanwhile, CCB has redefined its strategies in customer service and operating geographies. All these efforts led CCB to a new era of robust growth and remarkably improved profitability. A new logo with the present name of China Construction Bank, appeared on the office building of tens of thousands of branches and sub-branches across the country in March 1996, along with the introduction of a new corporate identity system. The sky blue logo reflects the vividly our prudent operating style, our commitment to a relentless striving for perfection. It also delivers a strong message from us: to build a better life in this ancient land of China. |
