On August 2nd, Qualification Examination for Managing Corporate Pension Funds finally concluded successfully.China Everbright Bank won wide acclaim from the panel of judges with its professionalism, and was authorized as both custodian and account manager for the Corporate Pension Fund.The Bank became one of the four domestic commercial banks to be awarded with this honor.The winning of these two titles is conducive to promoting the Bank’s development of relevant business operations; CEB has enhanced its competitiveness and social influence in the realm of social security; furthermore, in the competition for better innovation, the Bank has again demonstrated its strength in the domestic commercial bank sector.

In recent years, CEB’s innovation capacity and service quality have been well recognized by the market.When the first Renminbi wealth management product was launched in 2004, it drew tremendous attention from the public and was named the most influential wealth management product of the year by the media.In April 2005, CEB became the only domestic bank to receive three authorizations to act as the agency bank to manage the state’s treasury affairs: direct payment, authorized payment and non-tax revenue; in May of the same year, CEB was authorized to be the lead manager for short-term financing bonds. With a total market issuance value of RMB 22.9 billion, the portion issued by the Bank has already exceeded 50%.The winning of the two titles for Corporate Pension is no wonder another piece of good news.

CEB prepared vigorously in order to win the tender. Since 2003, Shanghai Municipal Corporate Pension Management Centre, Beijing Municipal Rural Retirement Insurance Fund Management Centre, and Shanghai Municipal Workers Security Society have entrusted CEB to manage a portion of their corporate pension, rural insurance fund and workers’ assets.CEB has gained much experience as a custodian in managing various funds such as social securities.After the promulgation of regulations No.20 and No.23 by the Labor and Social Securities Ministry, the Bank has responded actively; it took the lead in reassigning company backbones and external experts, and established an independent corporate pension management centre.The Bank is committed to the development tactics of combining international experience and domestic circumstances and has made thorough preparations in many fronts: human resources and knowledge reserve, research and consultation, information system and market nurturing.CEB invested heavily to establish an account management information system for corporate pension fund with characteristics of the banking sector; the system has been in pilot use for eight months since December 2004, managing nearly 20,000 individual accounts.Through the course of pilot use, the system gradually shed light on an operation model for corporate pension – “management upwards, services downwards”. Meanwhile, according to market surveys, exchanges between experts from home and abroad and business practice, special personnel have been assigned to conduct a large amount of research and follow-up work, participate in seminars held by the labor ministry, take part in the writing of relevant business regulations, and contribute to the development of the cause of corporate pension.

Such tireless efforts finally paid off.The winning of two titles – custodian and account manager for corporate pension funds -- is a result of CEB’s long-term strengthening of computerization and innovation capacity, enhancement of overall quality of financial services, and vigorous stepping up of intermediary business. This not only fully demonstrated CEB’s core competitiveness, but also acted as a propellant for the Bank’s sustainable development, promoting the brand image and the overall image of CEB as a whole.

The winning of the two titles is a good start for CEB.The Bank will continue to adhere to the client-centered business philosophy; in accordance with the relevant regulations of the supervision department, it will make its contributions to the undertaking of corporate pension according to laws.