The bidding for becoming the agency bank for the Central Government in collecting non-tax revenues was recently concluded.China Everbright Bank defeated all of its competitors and became the authorized agency bank for the Central Government in collecting non-tax revenues on its behalf. This is the third time that CEB is authorized to act on behalf of the Ministry of Finance, after receiving the authorization for direct payment and authorized payment.This signifies that CEB has become the only domestic commercial bank to be fully authorized to act on behalf of the state’s treasury affairs, greatly boosting the competitiveness and market image of the company.

The Central Government’s non-tax revenue refers to revenue acquired by local government branches, government organizations, public institutions, social groups that perform government’s functions on its behalf and other organizations by utilizing government authority, government credit, national resources, national capital or the provision of specific public services or promised public services. It is an integral part of the Central Government’s revenue.After acquiring the information that the Ministry of Finance decided to select an agency bank to collect the 2005 – 2006 non-tax revenue for the Central Government through bidding, CEB attached great importance to the bidding and made careful preparation, establishing a special work team led by President Guo You with other members from relevant departments and the business operation department of the head office.The work team was fully engaged in relevant preparation, completing documents for bidding of over 200,000 words.On the day of entering the bidding, CEB won the tender with its wonderful presentation which received wide acclaim from the panel of judges.

By virtue of winning the bidding, it is again proved that “a small bank can do great things”.This was a demonstration of CEB’s strong core competitiveness; in addition, the Bank availed itself of this excellent opportunity to lay a solid foundation for better cooperation with government units in charge and units responsible for revenue collection.

The winning of the bidding was also a result of CEB’s continuous efforts to strengthen computerization and business capacity building, vigorously boosting intermediary business.Especially since last year, CEB has put in extra efforts to step up computerization, and which has obtained fruitful results.The first phase of the management accounting was successfully put into use; the first phase of development for credit process has been completed, which is a part of the credit risk management project; as for the new core business system, the corporation business operation system has completed its system switch.The smooth development and implementation of computerization have greatly boosted business operation capacity, risk analysis and containment capacity, comprehensive management capacity and business efficiency, ensuring the leading position of the computerization level of CEB .

With the computerization being strengthened, other business operations of CEB are enjoying a stable and sustained development as well.The image of the Bank as a whole and its brand image continue to improve.The rapid growth and development of intermediary business is especially impressive and worth noting.Intermediary business is enjoying a comprehensive development, including international settlement, factoring, forfaiting, letter of credit, guaranteed purchase of bills.The business volume of different services such as domestic factoring jumped to the top of the ranking list in the domestic market; CEB has managed securities investment funds for five clients and capitals for three clients, achieving new breakthroughs in managing funds.CEB has launched many new products in the financing market, among which, foreign-currency wealth management product – Sunshine Wealth Management Plan A and Renminbi wealth management product – Sunshine Wealth Management Plan B were immediately accepted by the market after their launching. The sales of Sunshine Wealth Management Plan B accounted for 1/3 of the total sales of Renminbi wealth management products in 2004; CEB has played an exemplary role among its competitors, and the popularity of Sunshine Financing products has been greatly boosted.

In 2005, CEB will continue to deepen the implementation of scientific development, transform its business concept and methods and improve the business procedure and the performance mechanism. It will also strengthen its business operation, boost the capacity building, optimize resource allocation and determine development priorities. The bank also aims to expand the business in the areas of financing, capital and international business, further facilitate intermediary business such as funds trusteeship and payment collection, and nurture partial advantages, to establish better brand image, increase profits, and realize a sustainable and stable development of the business as a whole.