CCB: Know your role
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CCB: Know your role

Inclusivity takes a back seat to pandemic preparedness in a tough year, but it remains on the agenda for the Chinese bank.

Tian Guoli
CCB chairman of the board Tian Guoli

China Construction Bank’s interim report in 2019 was all about inclusivity. Chairman Tian Guoli and vice-chairman Liu Guiping directed investor attention toward a new strategy designed to position the bank as a bastion of sustainability. At the heart of it were home leasing, inclusive finance and fintech.

The headline act was Yunongtong, a new service aimed at accelerating rural financial reform, with the aim of creating what CCB describes as “smart rural areas”.

This year, inclusivity took a back seat to the pandemic. CCB’s interim report in 2020 was headlined, with a somewhat military flourish, ‘Fighting against the pandemic [and] supporting economic and social development’.

The bank then made clear why it exists – to fulfil “its responsibility as a major state-owned bank by earnestly implementing government policies.”

Financial coherence

Covid forced China Construction Bank and its peers to act fast. This wasn’t a carbon copy of the Lehman Brothers crisis – the government didn’t instruct state lenders to explode their balance sheets and they didn’t offer to.

Twelve

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