China Merchants Bank has formally published its 2008 corporate social responsibility report.
In nine parts, and based on the major events of 2008, the report details CMB's social responsibility activities in 2008 from the aspects of shareholders, the environment, clients, and employees. It shows that CMB offered a total of more than CNY500 billion in loans to small and medium size enterprises in the last three years, provided further support to more than 10,000 SMEs, and played an active role in promoting employment.
The report states that CMB donated a total of CNY14.7 million by itself to China's disaster hit areas and organized its employees to make another donation of more than CNY180 million. In addition to this, it launched a donation platform and mobilized its clients to donate for the earthquake affected areas as well as offering a range of preferential policies on remittances, account transfers, and bank loans in support of the reconstruction of the earthquake affected areas.
In addition, CMB actively fulfilled its commitment to education. In 2008, CMB spent CNY3 million on building seven earthquake-proof Project Hope schools and enabled 6,133 students and their teachers to go back to the classroom. Over the year, it also joined with the Jet Li One Foundation in launching a "love credit card" to support sports education in those Project Hope Schools. Furthermore, it also signed an agreement with the Shenzhen Municipal Government and become the first partner of the 26th World University Student Summer Sports Games in Shenzhen to be held in 2011.
In 2008, CMB continued to make efforts in poverty alleviation. It sent a total of 38 cadres to assist the local government in Yunnan to eliminate poverty in the two counties of Yong Ren and Wudin. It donated CNY4.374 million in cash, 27,371 items of clothing, 12,274 books, and 71 computers to the two counties in addition to offering aid to 880 students and providing CNY2 million in small loans.
Under the current economic situation, CMB has decided to focus on the development SMEs business. It has set up the first SMEs credit and loan center in China to provide financial services to SMEs and help them get through the financial crisis.
Ma Weihua, the president of CMB, told local media that in the face of the global financial crisis and its increasing negative influence on the Chinese economy, CMB will try to grasp the opportunities, work hard to improve its management and grow in a scientific manner. Meanwhile, it will keep on working on CSR construction, strive to push social development, and maximize concern for its shareholders, clients and employees.
