December 28 2005 – China Construction Bank Corporation (“CCB”) （SEHK:0939）and Red Cross Society of China (“RCSC”) today signed a strategic partnership agreement at the Great Hall of the People in Beijing. CCB will donate a sum of RMB 3 million for the establishment of “China Construciton Bank’s Red Cross Youth Development Fund” to promote youth development in the PRC. In addition, CCB will issue a ”China Red Cross Long Card” for every member of RCSC. Part of the revenue will be used to support RCSC’s operation.

Mr. Chang Zhenming, President of CCB said, “As an international humanitarian and social welfare organization, RCSC has long committed to advocating humanitarianism, protecting lives as well as promoting world peace, and has contributed significantly to the social, political and spiritual development of the society in the PRC. The organization owns abundant social resources and has strong influence over the community. The partnership between CCB and RCSC reflected a common goal of a financial institution and a welfare organization to contribute to social welfare undertaking. It also marked an important milestone to build an effective mechanism for financial institutions to participate in the development of RCSC.” 

CCB will provide RCSC and their members with comprehensive and diversified financial services. Mutual cooperation will be seen in areas such as collection of money donation, currency exchanges and information sharing.

Jiang Yima, Vice President of RCSC remarked, “Being the first state-owned commercial bank in the PRC to go public, CCB has secured advantages in various financial services. CCB’s support will help foster the growth of RCSC in the future. We believe that our strategic partnership in a long run will bring in a win-win situation. Not only such cooperation between CCB and RCSC was exceptional, it also initiated efforts for a financial institution and a social welfare institution to reach a reciprocal position. Furthermore, it has explored the possibility of establishing an effective system for financial institutions in the PRC to play a role in social welfare business.”

At the Signing Ceremony cum Card Launching Ceremony, PENG Peiyun, President of RCSC received donation from CCB and presented “Badge of Fraternity” to the bank. Chang Zhenming, President of CCB and Jiang Yiman, President of RCSC spoke at the ceremony.  Luo Zhefu, Vice President of CCB and Su Juxiang , Vice President of RCSC signed a strategic partnership agreement.