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Social Responsibilities
 
A bank’s social responsibilities go much further than making profit and paying taxes, and do not limited to charitable donations. Its true essence lies in making environmental protection, emission reduction and increasing social welfare through the provision of specialized services. It requires a bank to abide by the market rules and adopt social responsibility and sustainable finance as the core philosophy and guiding value. By providing high quality financial products and services, a bank can exert its influence to support the sustainable development of the society, economy and environment.
 
Based on significant insight into the social responsibilities, the Industrial Bank explicitly clarified “the study and formulation of strategies and policies regarding the social responsibilities, and the supervision, examination and assessment of the social responsibilities performance” as one of the duties of the Executive Committee under the Board of Directors, and formally wrote it into its Articles of Association. The Bank regards the social responsibilities and sustainable finance as its core philosophy and guiding value to guide its management and business activities. Guided by this strategy, the Bank is committed to improving its corporate governance structure, ensures the interests of shareholders, and also takes into account of the interest of staff, clients and other stakeholders. The Bank endeavors to put scientific concepts of development into practice through concrete actions and serve the construction of a harmonious socialist society. Over the years, the Bank has made great efforts to develop energy efficiency finance program to promote energy savings and environmental protection. As at the end of September 2009, 146 loans under the program have been granted with a total amount of RMB9.237 billion and nil NPLs, and the projects are expected to reduce 5.939 million tons of coal equivalent, 20.2287 billion tons of CO2. The Bank also rolled out the Bank-to-Bank Platform which constitutes a harmonious financial “ecology” by sharing resources and reducing duplications. As at the end of 2008, 138 small and medium-sized banks and 9277 banking outlets had been connected to the Bank-to-Bank Platform network. Strictly implementing the national macro-economic control policy, the Bank has carefully managed the direction of credit. Credit and loans granted to resource dependent, high-pollution, heavy-energy-consumption companies have also been scaled down. By developing SME loans, the economic vitality and improve people's livelihoods have been improved. The Bank has adopted Equator Principles to fulfill social responsibilities under international standards. Devoted to public warfare, the Bank strives to be a moral corporate citizen.
 
The action taken by the Bank in respect to social responsibilities and sustainable finance has been recognized with praises from various sectors of society. The Bank has been awarded with such honors and titles as “Top 10 Chinese Bank”, “Best Corporate Citizen 2007”, “Best Corporate Public Image Award 2007” and “FT Asia’s Sustainable Bank of the Year 2009” by prestigious media groups and publications from both China and abroad. These achievements are attributable to a common understanding of social responsibility throughout the Bank and its integration into all aspects, including strategy, business and culture.