General Manager of Central Huijin Investment Company

September 21, 2004

 
Distinguished government officials,

Disguised Guests,

Ladies and Gentlemen,

 
Good morning!

First of all, please allow me to extend warm congratulations on the incorporation of China Construction Bank Corporation on behalf of the 5 sponsors including the Central Huijin Investment Company.

The Central Huijin Investment Company is a state-owned investment company established under the approval of the State Council. Its major function is to, representing the state, fulfill the rights and obligations as an investor for such important financial institutions as Bank of China and China Construction Bank, to support them carrying out reform measures and improving corporate governance, and to ensure the security and reasonable return of capital injected by the state.

Under the guidance of the Central Party Committee and the State Council and the direct leadership of the Leading Office of the State Council for Pilot Shareholding Reform of the State-owned Commercial Banks, with the full support of related government agencies and the relentless efforts of all the CCB staff, China Construction Bank has made significant progress in the pilot shareholding reform. The Central Huijin Investment Company, China Jianyin Investment Limited, State Grid, Shanghai Bao Steel Group and China Yangtze Power Co., Ltd. injected RMB 194.23 billion (the Central Huijin Investment Company invested RMB 165.538 billion, with 85.228% of equity interest) to incorporate China Construction Bank Corporation, indicating a milestone both for the reform of China Construction Bank and the restructuring of the state-owned commercial banks. As the major sponsor of China Construction Bank Corporation, the Central Huijin Investment Company will work with the other sponsors to extend full support for the reform and development of China Construction Bank Corporation.

The sponsors sent directors and supervisors to the Corporation in accordance with the Company Law and elected the first Board of Directors and Board of Supervisors. I hope they will carefully study such laws as the Company Law and the Commercial Banking Law, steadfastly implement the financial policies and principles made by the Central Party Committee and the State Council, observe the Articles of Association, honestly fulfill their duties and safeguard the interests of the corporation. Meanwhile, I wish the staff of China Construction Bank Corporation could support these directors and supervisors. It is also my hope that in the Corporation the Board of Directors, the Board of Supervisors and the Executive Management could fully cooperate to fulfill their respective responsibilities, give full play to role of the staff, further improve corporate governance, accelerate internal mechanism reform, transform management perception, actively expand market share, conduct financial innovation, accelerate development of information technologies, enhance services, strengthen core competitiveness, raise return to shareholders and build China Construction Bank Corporation into a modern shareholding commercial bank with adequate capital, sophisticated internal control, safe operation and sound services.

In tens days, China Construction Bank will celebrate the 50th anniversary. Here, on behalf of the shareholders, I’d like to express my sincere congratulations on the remarkable achievements made by China Construction Bank over the past 50 years and my best wish that China Construction Bank Corporation will make new contribution to the construction of the moderately wealthy society and the buildup of international competitiveness of the national banking industry.

Thank you!