Industrial Bank Topped the List of Fujian Top 100 Taxpayers Consecutively
Recently, Fujian Provincial Office, State Administration of Taxation and Fujian Local Taxation Bureau jointly announced the list of Fujian Top 100 taxpayers for 2014. Industrial Bank (IB) paid a total of taxes of RMB 13.82 billion in the province in 2014, up by 11.2% over the previous year, topping the list for two consecutive years.
The list reflects the development strength and social contribution of enterprises. Facing the new normal of economy, in 2014 IB accelerated its reform and transformation and further reinforced its market-oriented operation capability, integrated service capacity, and differentiated competitive edges, with its business performance growing steadily. By the end of 2014, the total assets of IB hit RMB 4.4 trillion, registering an annual compound growth rate of 36% on average since its opening. The net profits realized in the year reached RMB 47.138 billion, seeing an annual compound growth rate of 40% on average. It has grown into one of the few bank holding groups in China holding a number of financial licenses including banking, trust, lease, fund, consumer finance and futures, making its presence stably in Global Top 50 Banks, and the Global Top 100 of Listed Companies, and Fortune Global 500.
As the only national commercial bank based in Fujian, IB takes it as its responsibility to serve the building of new Fujian, spares no efforts in supporting key projects and public welfare undertaking of the province, and building of FTZ, and lends active support to the building of new Fujian characterized by “flexible mechanism, improved industrial structure, rich people and beautiful ecology”. By the end of 2014, various credit balances of IB in both home and foreign currencies in the province totaled RMB 231.082 billion, up by 16.55% over the beginning of the year, registering a credit growth rate 2.83% higher than that of the entire bank. It made active contribution to the stable economic growth of the province.
While expanding its business reach and intensifying its service efforts for the building of new Fujian, IB always takes “honest operation” as its foundation of existence, and adheres to the business concept of “obtaining reasonable profits while bringing benefits to the stakeholders”. It abides by the laws and regulations on taxation consciously, pays taxes honestly, and performs its corporate social reasonability actively. Since 2006, the bank has paid a total of taxes hitting RMB 106.9 billion, with an annual increase of 35.72% on average. Specifically, the total taxes paid in Fujian Province amounted to RMB 51.4 billion, with an annual increase of 49.54% on average. Just in the year of 2014, the taxes paid by the bank in Fujian hit RMB 13.82 billion, up by 11.2% over the previous year. Serving as an excellent demonstration image of “operating business in an honest and lawful manner, paying taxes under law, and giving returns to the society”, the bank has been given many honors and titles at the provincial level, such as “Taxpayer with Level A Credit”, “Great Tax Contributor”, and “Top 100 Taxpayer”.TOP