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Top Ten Events of 2017 for the Postal Savings Bank of China
Top Ten Events of 2017 for the Postal Savings Bank of China
| China Post |2018-01-24

1. Carrying out a wide range of activities to study and publicize the spirit of the 19th National Congress of the Communist Party of China (CPC)

To meet the 19th National Congress of the Communist Party of China, the Postal Savings Bank of China (PSBC) carried out a series of promotional activities themed ‘PSBC’s outstanding achievements over the past five years’. A series of reports were published in the People’s Daily, CCTV, Xinhua and other central medias.

In addition, an exhibition of excellent Party class works was held along with other activities.

After the 19th National Congress, the PSBC Party Committee promptly deployed to study, publicize and implement the spirit of the congress.

Based on the practice of Party construction work at the grassroots level, Party organizations at all levels combined thematic educational activities, unified all Party members’ thoughts and actions into the spirit of the 19th National Congress, and ensured socialist ideological with Chinese characteristics took root across the whole enterprise and formed lively practice.

2. Highly recognized by international rating agencies and investors, the Postal Savings Bank of China successfully issued overseas preferred stock valued at up to US $ 7.25 billion.

The Postal Savings Bank of China (PSBC) successfully issued US $ 7.25 billion of foreign preemptive shares on September 21. Following the bank being listed on the Hong Kong Exchange in 2016, it was listed on the Stock Exchange of Hong Kong Ltd (SEHK) and began trading on September 28, 2017.

It was yet another financial activity in the international capital market for PSBC, which has set many records. It was the world’s largest preferred stock issuance of a financial institution since 2010 and the largest preferred shares of a financial institution in Asia ever, all of which further enhanced PSBC’s international influence.

Before the issuance of the foreign priority shares, international rating agencies issued the rating results for PSBC, having been optimistic about the prospects of the bank. This fully demonstrated the affirmation of domestic and foreign investors to its development strategy as a large retail bank as well as the unique ‘self-management +escrow’ model, strong financial strength, excellent asset quality and significant growth potential.


3. With their influence improving, PSBC was on the Forbes Global 2000: The World’s Largest Companies in 2017 list for the first time when the new rankings were released on May 25, ranked in 55th place.

The Forbes Global 2000 is a categorization of the largest publicly listed companies in the world. 

PSBC was ranked in 21st place on the Banker’s Top 1000 World Banks 2017 ranking released on July 3 for its total assets of U.S.$ 1.19 trillion, rising one place higher than 2016, and seven places higher than 2014 when it was listed in the rankings for the first time.

PSBC held 31st position in the rankings for a tier 1 capital of U.S.$ 49.615 billion, rising eight places higher than 2016 and 32 places higher than 2014.


4. President of the Postal Savings Bank of China (PSBC) Li Guohua won the award for the "Most Influential Leader of a Listed Company" at the Golden Bauhinia International Financial Forum and the awards ceremony for China Securities Golden Bauhinia Awards was held in Hong Kong on November 30.

The organizing committee gave Li Guohua a high appraisal, ‘He is concerned with the well-being of agriculture, rural areas and farmers, as well as small and medium-sized businesses, local communities and the most dynamic customer group in China’s economic transformation. Li led PSBC to make huge progress, and led enterprises to contribute actively to the development of national economic construction and the development of society.

Lü Jiajin, governor of the Postal Savings Bank of China (PSBC), won the Responsible Leader of the Year award at the 2017 Corporate Social Responsibility Annual Meeting sponsored by Nanfang Daily in Beijing on July 28.

‘PSBC’s outlets cover 98 percent of rural areas at the county level, have offered loans of over 80 billlion yuan (US $12.5 billion), established Postal Love Public Welfare Platforms, actively fulfilled their social responsibilities, supported public welfare undertakings and the development of the rural economy and completed a series of positive innovations’ the award words read.


5.  PSBC opens up a new chapter of inclusive finance and national promotion work for departments of agricultural finance.

The Postal Savings Bank of China (PSBC) held a national extension conference on the reform of its departments of agricultural finance, calling for the establishment of departments of agricultural finance nationwide to service agriculture, rural areas and farmers on May 24. They had founded 27 departments at provincial level by the middle of September, and the national promotion work was completed.

The bank has actively explored different formats of inclusive financial development for large commercial banks for a long time. The establishment of departments of agricultural finance is propitious for playing to the unique advantages of network and capital, further building a professional service system for agriculture and fully implementing the strategy to service agriculture, rural areas and farmers.


6.  Speeding up development of online financial transformation and Mobile Banking Service customers breaking 170 million

2017 was the first year that PSBC’s online financial development planning was put into effect and the bank achieved a breakthrough in their online financial platform, Direct Banking and robo-advisor. It consolidates the advantages of traditional postal banks, gives full play to online features and promotes the development of the online banking transformation.

Guided by the online financial development plan, PSBC’s mobile banking action plan was officially launched on August 1, which was a strategic choice for the bank to adapt to the trend of mobile finance and promote the bank’s transformation.

Customer numbers of mobile banking hit an all-time high of 175 million by the end of December 2017, an increase of 40 million over the previous year


7.  Supporting China’s ‘Belt and Road Initiative’ and strengthening mutually beneficial cooperation in key areas

PSBC has increased the intensity of support for the ‘Belt and Road Initiative’ through financial product innovation and strengthening cooperation and win-win measures.

In addition to promoting traditional business, the bank actively carried out product innovation, introduced cross-border structured financing, and exported buyer’s credit and seller’s credit to enhance customer service capacity.

PSBC completed the granting of loans for first sovereign institutions on July 18, 2017, further expanding business areas and rich customer groups.

The bank matched loans of cross-border projects with ‘currency swap’ derivatives for the first time to meet customers’ demand for different currencies.

A series of innovative key projects have been launched, playing an exemplary role for future business.

All of these have reflected the bank’s responsibility in support of China’s ‘Belt and Road Initiative’.


8. Joining hands with the “We Are the Hero” program of CCTV (China Central Television)to support innovation and entrepreneurship.

Postal Savings Bank of China (PSBC) sponsored the “We Are the Hero” program of CCTV (China Central Television) on August 4, 2017, which has drawn widespread interest in the field of innovation and entrepreneurship.

The cooperation is a new extension of The Entrepreneurship and Wealth Making competition, which PSBC has held for eight consecutive years. It combines financing and intelligence, providing an integrated service platform for individual entrepreneurs, and small- and micro-businesses through the introduction of media, experts and government.

Known as the ‘Good Project Incubator of China’, the “We Are the Hero” program is CCTV’s first large public class for young entrepreneurs.

Joining hands with CCTV, PSBC has successfully organized selections in Guangzhou, Hefei, Chengdu, Beijing and other places since August 2017.

A special audition was held in Shenzhen, where agriculture-related and small- and micro-entrepreneur groups were selected from all PSBC customers.

11 were chosen to take part in the CCTV program, striving for financing directly.


9.  At a press conference held on March 20, the 10th anniversary of the founding of the Postal Savings Bank of China (PSBC) and the bank's Public Welfare Day, PSBC announced that the Postal Love Public Welfare Platform it created was officially put into operation including a Postal Love Fund, Postal Love Growth Plan and the newly-founded Public Welfare Volunteers Association.

“The Postal Love Public Welfare Platform is an important initiative to play to our advantages, integrate internal and external resources, and sustain public welfare undertakings,” PSBC President Li Guohua said. “Its vision is to condense social strength, arouse public awareness and deliver humane care as it works to become an innovator and practitioner of Chinese welfare.”

With PSBC and the CFPA jointly initiating the Postal Love Public Welfare Fund, PSBC donated 5 million yuan (US$ 725,500) as startup funding.

In addition, the two launched a “Donating Together” campaign on a WeChat public welfare platform. In just a week, nearly 260,000 postal workers and the public had donated more than 5 million yuan (US$ 725,500) by March 20.

The Postal Love Public Welfare Fund has now raised a total of 11 million yuan (US$ 1.7 million), providing education funding support for needy students, ‘Postal Love Self-Improvement Class’ and other public welfare projects, which has been widely praised by all walks of life.


10.  The loan balance of PSBC Consumer Finance breaks 10 billion yuan (US$ 1.56 billion)

PSBC Consumer Finance has achieved the goal of US$ 1.56 billion loan balance on August 1, 2017.

PSBC Consumer Finance is a national financial institution established by the Postal Savings Bank of China, which opened in Guangzhou, south China’s Guangdong Province, in November 2015.

The company took ‘Credit Life, Enjoying Yourself’ as the vision of development, servicing customers nationwide.

It combines physical PSBC outlets with the online China Post Purse app, forming an O2O business model.

The company services new families and an improved consumer group, improving their life quality. 


 (China Post)

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