A ceremony was held on July 5th between China Construction Bank (CCB) and Tsinghua University School of Economics and Management (Tsinghua SEM) for the signing of an endowment agreement for the China Construction Bank-Tsinghua Chair Professorship Fund.  Attending the ceremony and addressing the occasion were CCB Chairman Mr. Guo Shuqing and Tsinghua President Dr. Gu Binglin.

The signing of the agreement is yet another endowment from CCB after its endowments for the “Tsinghua University-CCB Scholarship & Bursaries” and the “Tsinghua University-CCB Library Foundation” in December 2006.  These endowments serve to support teaching and research in Tsinghua and provide favourable learning conditions for Tsinghua students.

This time, CCB’s endowment to Tsinghua SEM is used to establish the CCB-Tsinghua Chair Professorship Fund.  This fund will be maintained in perpetuity, and the earnings from the fund will be used to invite every year a scholar with international academic achievements and fame to join Tsinghua SEM and teach in English.  The purpose is to give sustained support to the School in raising its teaching standards and research capabilities.

By using a perpetual fund to establish a chair professorship permanently named after CCB in Tsinghua SEM, CCB is experimenting with a new way of contributing towards academic advancement in China in the areas of economics, finance and management through cooperating with institutes of higher learning and supporting academic research.  In future, CCB will continue to explore new areas and new methods of cooperation with Tsinghua SEM in order that a win-win situation can be achieved for teaching and research activities in the School and for the transformation and development of CCB itself.

After the signing ceremony, the two parties made a visit to the permanently named “China Construction Bank Classroom” in Tsinghua SEM.  During the visit, CCB Chairman Guo Shuqing, SEM Dean Qian Yingyi, Tsinghua Professor and CCB independent director Song Fengming had a pleasant exchange and discussion with Tsinghua teachers and students on recent development in China’s banking industry in general and CCB’s experience in transformation in particular.

China Construction Bank Corporation is a major commercial bank with a history of more than 50 years, and is the first major state-owned commercial bank to be successfully listed overseas.  In 2007, CCB is ranked third in the “Top 100 Chinese Banks” by The Banker magazine of UK; in May, it was selected “Best Emerging Market Banks – Best Bank in China 2007” by Global Finance magazine; in April, it was named “2007 Best in Corporate Governance Enterprise” by The Asset magazine of Hong Kong.  At present, CCB has already become a commercial bank with the highest earning power, the best asset quality, the highest increase in new deposits and new loans, the highest increase in issuance of new credit cards and the highest market share in short-term financial note issuance.  For many years, CCB has been relentless in undertaking its corporate social responsibility and has continuously made great efforts in supporting health care, educational, cultural and hygiene programmes in the country, as well as in relieving the poor and the distressed.  CCB has gained much commendation and recognition from all sectors of society for the contribution it has made to various charity causes.  For example, it has been awarded the honour of providing “Outstanding Contributions for the Care of Children” and “Special Contributions to the Second Annual Poverty Fighting Campaign” respectively from China Children & Teenagers’ Fund and the China Foundation for Poverty Alleviation.  Moreover, it is the only bank which was named one of the “Most Responsible Corporate Citizen in China 2006” by the Red Cross Society of China.

Established in 1984, Tsinghua SEM has succeeded in gradually establishing in the last 20 plus years a full range of academic departments, an all-round education system and an excellent teaching team.  It is now one of the best economics and management schools in China and Asia and its teaching and research enjoys a prestigious status in Chinese and international academic circles.  In April 2007, Tsinghua SEM obtained the most authoritative accreditation from the Association to Advance Collegiate Schools of Business and became the first school to obtain such an accreditation in China.  Over the years, Tsinghua SEM has been continuously supplying outstanding management talents for supporting China’s economic development.  The mission of Tsinghua SEM is to “be ranked among the world’s top schools of economics and management, train future business leaders for China and for the world, contribute to academic advancement, and drive for the recovering of the Chinese economy.”