Lately, CCB was awarded the Best Chinese Bank title in the annual “3A” award assessment activity run by Asset Magazine.  This is the third consecutive year in which CCB is awarded the title.

Since its shareholding reform and listing, CCB’s various businesses have seen rapid yet prudent development.  With substantial improvements in its management standards and product and service innovation capabilities, with its sustained improvement in asset quality, and with its key financial indicators staying ahead in China’s banking sector, CCB has won high acclaims in the international capital market.  Last September, the successful listing of CCB in Shanghai A Share market provided an additional momentum for an intensification of reforms and a quickening of development.  As at September 30th 2007, CCB’s total asset was RMB 6,410,000 million yuan, ranking second in size among all Chinese banks.  In the first half of 2007, CCB had registered a net profit of RMB 34,255 million yuan, a 47.50% increase over the same period in the previous year.  Earnings per share were RMB 0.15 yuan, while annualised average return on asset and annualised average return on shareholders’ equity were 1.18% and 20.88% respectively.  Meanwhile, by seizing on the opportunity of China’s rapid economic development and the dynamism of the capital market, CCB had been able to achieve positive results in its operational transformation and business structure adjustments.  In the first half of 2007, it had realised an operating income of RMB 99,786 million, an increase of 40.81% over the same period in the previous year.  Of this, net interest income grew 36.65% to RMB 89,213 million; net fee and commission income increased 101.70% to RMB 12,660 million; and the ratio of net fee and commission income to operating income was raised to 12.69%, thereby further improving its income structure.  Meanwhile, its risk control capability had increased continually and its asset quality had improved incessantly, so much so that, as at the end of June 2007, its non-performing loan rate remained the lowest among China's four major banks at 2.95%.

The Asset magazine is a well known Asian financial monthly whose core readership includes senior officers in multinational enterprises, investment banks, commercial banks, securities firms, financial institutions and consultancies in related fields.  It has been hosting the “3A” award programme every year since 1999.  Because this programme is backed by an asset appraisal coefficient (TASO) which covers a multitude of quantitative and qualitative factors, it has appreciable influence in the global financial market.  In particular, based on all-round studies of participating banks on their financial results, competitive business, policy innovation and market position, etc, the “Best Chinese Bank” award programme is one of the most prestigious awards in the 3A programme.  According to Asset Magazine, the reason for awarding CCB out of a group of strong contenders is because it had been able to seize on market opportunities to accelerate its business development underpinned by effective risk controls and was able to fortify its market position by achieving good operating results in all business areas.