The Interim Working Meeting of China Everbright Group and China Everbright Bank was held in Beijing today. In his mobilization speech, Mr. Tang Shuangning, Chairman and Secretary to the CPC committee of China Everbright Group, nailed down the concept of “four focuses and one promotion” and the primary tasks in four aspects, and put forth the requirements of building the “Five Projects”.

　　Currently, relevant authorities approved the restructuring plan of China Everbright Group. The plan set down the restructuring mode of incorporating “China Everbright Financial Holding Group” and put forth the requirements of exploring the pattern of modern financial holding enterprise and paving way for the reform of Chinese financial institutions. This is a significant decision which benefits the reform, the state and China Everbright Group.

　　Mr. Tang expressed at the conference that, new leaders of China Everbright Group will earnestly fulfill the task of initiating the reform granted by the Central Committee of CPC and the State Council in the current period. Mr. Tang put forth the concept of “four focuses and one promotion”: 1. focus on addressing the primary conflict, i.e. the relationship between reform and development, and make keen efforts to properly fulfill and complete the reform; 2. focus on seizing the historical opportunities, seizing the great opportunities created by uprising economy and bull capital market; 3. focus on the reform of key enterprises, during which top priority shall be given to the reform of China Everbright bank which has 96% assets and 93% employees of China Everbright Group; 4. focus on strengthening internal management, developing strict rules and regulations and sound internal control system, taking forceful punishment measures against lawbreakers to eliminate the frequent occurrence of cases, in order to promote the comprehensive development of the Group and improve the overall competitiveness and sustainable development capacity. According to the general concept of “four focuses and one promotion”, the conference specified the tasks in four aspects concerning the current reform: 1. boosting the reform of China Everbright Group and incorporating the first financial holding group company held by the state; 2. incorporating China Everbright Industry Group Company to boost the sustainable development of industrial business; 3. completing the financial restructuring of China Everbright Bank, introducing international leading commercial banks as our strategic investors on the basis of qualified capital adequacy ratio, sound asset quality and sufficient provisions, and striving for completion of share offering and listing in the next year; 4. completing the share offering of China Everbright Securities, expanding the market share of Sun Life Everbright Insurance, and strengthening investment management and business development of Everbright Industrial.

　　In order to mobilize and coordinate various parties to form a synergetic effect and to ensure a successful reform, Mr. Tang pointed out that in the current period and in the near future, consistent efforts shall be devoted to the building of “Five Projects”. 1. The project of reform. Currently, reform is the top priority task of the whole group, and the reform of China Everbright Bank is the focus of all priority tasks, therefore, implementation of reform shall be taken as the central task above all other issues. All levels shall work to contribute to the synergetic effect according to its own positioning, so that the reform could be pushed forward. 2. The project of management. Efforts must be made to strengthen internal management and build accountability mechanism by way of case disclosure, cause analysis, responsibility investigation and earnest rectification. Inspections shall be made to the formulation and execution of rules at each business and post, so that the management capability can be improved and a compliance culture be nourished, providing necessary institutional basis and effective guarantee for the reform. 3. The project of innovation. The financial innovation shall be highlighted and pressed ahead in an overall basis. China Everbright Bank has the first-move advantage and significant market influence in wealth management business, which is an important product innovation in the financial industry. The “Sunshine Wealth Management” products of China Everbright Bank have created remarkable results, and enjoyed favorable market influence and performance since its launch in 2004, therefore, as the core product of innovation and a significant strategic option, the leading market position of such products shall be further consolidated and the innovation of single product shall be gradually transformed to continual innovation of product series. 4. The project of cohesiveness. By construction of a down-to-earth work style and creation of remarkable performance, we shall improve the employee’s confidence in the reform and establish a good image of China Everbright Group, with an aim to building a cohesive and conscientious atmosphere so that the employees work diligently with and take pride in China Everbright Group. 5. The project of talent. To build the project of talent, we shall highlight the discovery, recommendation, scientific use and retaining of internal talents by reforming the mechanism, and promote talented people according to their performance and competence; we shall cultivate talents and improve employees’ quality and competence by setting down overall training plans, providing various pertinent trainings and implementing effective assessment and incentive policies; we shall absorb external talented people, and provide competitive remuneration and incentive policies to the leading top-notch talents such as comprehensive strategic planning talents, international financial innovation talents, high-end R&D talents of emerging businesses and comprehensive management talents.

　　According to Mr. Tang, China Everbright Bank shall made a significant stride in strategy development, business innovation, operations management, operating profits, capital adequacy and asset security, and promote the steady and fast development of business in the second half year. Securities, insurance and other institutions shall also make new achievements by virtue of the reform.

　　In conclusion, Mr. Tang stressed that, China Everbright Group, facing both favorable opportunities and arduous challenges, shall stick to the scientific approach to development and seize the precious historical opportunity to push forward the reform and promote the scientific and sustainable development of China Everbright Group.