Industrial Bank Co., Ltd. places a strong emphasis on maximizing shareholder value, balanced with a steadfast commitment to the bank's enduring stability and sustainable growth. The institution ardently champions the safeguarding of interests across all stakeholder groups, endeavoring to foster a climate of harmony and mutual respect among a spectrum of interest parties. Presently, the bank is distinguished by its multifaceted shareholder composition, marked by proportionate representation, impeccable credentials, and transparent relationships. The Party Committee guides the overall direction, mananges the overall situation, and ensures implementation; the Board of Directors sets strategy, makes key decisions, and manages risks; the senior management drives operations, execution, and management; the General Meeting deliberates and votes in accordance with the law; and the Board of Supervisors exercises oversight in compliance with statutory requirements. The governance bodies are characterized by clearly delineated responsibilities, a system of reciprocal oversight, and seamless integration in operations. The bank's governance framework is both exhaustive and methodical, assuring uniformity and excellence in execution at every level.
I.Strengthening Party Leadership
The bank adheres to the centralized and unified leadership of the CPC Central Committee over financial work, thoroughly studies and implements Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and strengthens the Party's political foundations. The Bank leverages high-quality Party building to guide and drive its own high-quality growth. The Party Committee plays both a leadership and political core role, conducting preliminary deliberations in accordance with laws and regulations on major decision-making matters, important personnel appointments and removals, significant project arrangements, and use of large-value funds. The Bank has long maintained a governance system that integrates the Party Committee with the Board of Directors, the Board of Supervisors, and senior management through dual-entry and cross-appointment. Currently, three members of the Party Committee serve on the Board of Directors, one serves on the Board of Supervisors, and five serve on the senior management. While strongly supporting the lawful exercise of powers of the General Meeting, Board of Directors, Board of Supervisors, and senior management, the Party Committee ensures its members play an effective role within these governance bodies.
II.Shareholders and General Meeting
The Fujian Provincial Finance Department and the wholly state-funded Fujian Financial Investment Co., Ltd., are the largest consolidated shareholders of the bank. General Meeting is the supreme decision-making body of the bank. It operates in accordance with the law, continually enhancing effective communication channels with shareholders. The bank actively collects opinions and suggestions of a broad range of investors, ensuring all shareholders are informed and can participate in and vote on major corporate matters. When deliberating on significant issues affecting small and medium investors, the bank conducts and discloses separate vote counting and results for these investors.
III.Directors and the Board of Directors
The Board of Directors is the decision-making body of the bank, operating with standardization and scientific decision-making. The composition of the bank's directors is thoughtfully considered, taking into account the company's future operational and development needs as well as diverse selection criteria. These criteria include professional background, the proportion of female members, and age distribution. This continuous optimization of the board composition lays a vital foundation for informed and efficient decision-making. Currently, the board consists of 14 directors, including 3 executive directors and 11 non-executive directors. The board enhances the quality and effectiveness of the implementation of strategic decisions by hearing and reviewing proposals, conducting special-subject research, and establishing a closed-loop management system for decision-making, communication, implementation, and feedback. It effectively plays its role in strategic planning, formulating operational plans, deepening institutional and mechanism reforms, strengthening capital management, enhancing risk control, and promoting digital transformation. The bank continuously improves the decision-making and transmission mechanisms of the board, thereby enhancing the efficiency of its operations.
The bank's Board of Directors has established five committees: the Strategy and ESG Committee, Risk Management and Consumer Protection Committee, Audit and Related Party Transaction Control Committee, Nomination Committee, and Remuneration and Evaluation Committee. The chairpersons of the Risk Management and Consumer Protection Committee, Audit and Related Party Transaction Control Committee, Nomination Committee, and Remuneration and Evaluation Committee are all independent non-executive directors, with a majority of independent non-executive directors serving on these committees. The Audit and Related Party Transaction Control Committee is composed entirely of non-executive directors, each with expertise and work experience in finance, auditing, accounting, or law. Additionally, the Remuneration and Evaluation Committee includes members with financial background.
(I) Strategy and ESG Committee: consists of five members - Lyu Jiajin, Chen Xinjian, Sun Xiongpeng, Xu Lin, and Wang Hongmei, with Lyu Jiajin serving as the Chairman.
(II) Risk Management and Consumer Protection Committee: consists of five members – Huang Hanchun, Zhu Kun, Chen Gongxian, Ben Shenglin, and Zhu Yuhong, with Ben Shenglin as the Chairperson.
(III) Audit and Related Party Transaction Control Committee: consists of five members - Qiao Lijian, Zhang Wei, Xu Lin, Wang Hongmei, and Zhang Xuewen, with Zhang Xuewen as the Chairperson.
(IV) Nomination Committee: consists of three members - Ben Shenglin, Wang Hongmei, and Zhu Yuhong, with Wang Hongmei as the Chairperson.
(V) Remuneration and Evaluation Committee: consists of three members – Huang Hanchun, Xu Lin, and Zhang Xuewen, with Xu Lin as the Chairperson.
Ⅳ.Supervisors and the Board of Supervisors
The Board of Supervisors serves as the bank's oversight body. The current Board of Supervisors of the bank has 5 members, including 1 shareholder supervisor, 2 staff supervisors, and 2 external supervisors. The Board of Supervisors diligently fulfills its supervisory responsibilities, actively conducts specialized research and audit investigations, guides internal audit work, and regularly communicates with external auditing agencies. It legally oversees the bank's development strategy, financial activities, business decisions, risk management, internal control, corporate governance, related transactions, and the performance and responsibilities of the Board of Directors and senior management.
The Board of Supervisors of the bank has established two special committees: the Supervisory Committee and the Nomination, Compensation and Assessment Committee. The chairpersons of both committees are external supervisors.
(I) Supervisory Committee: Composed of three members – Yu Zusheng, Zhu Qing, and Sun Zheng, with Sun Zheng as the Chairperson.
(II) Nomination, Remuneration and Evaluation Committee: Consists of three members - Yu Zusheng, Zhang Guoming, and Zhu Qing, with Zhu Qing as the Chairperson.
V.Senior Management
The senior management acts as the executive body of the bank and is accountable to the Board of Directors. Currently, the bank's senior management team comprises 6 members, including 1 president and 5 vice-presidents. Under the senior management, there are 12 committees: the Strategy Promotion Committee, Digital Transformation Committee, Asset and Liability Management Committee, Investment Decision Committee, Risk Management Committee, Internal Control Committee, Special Assets Management Committee, Business Continuity Management Committee, Bulk Commodity Procurement Committee, Internal Accountability Committee, Credit Approval Committee, and Investment Review Committee.