Postal Savings Bank of China (PSBC) won the “2017 China Social Responsibility Outstanding Enterprise” award at the 2017 China Corporate Social Responsibility Summit in Beijing on December 6. The event was jointly sponsored by xinhuanet.com and the Research Center for Corporate Social Responsibility at the Chinese Academy of Social Sciences and the China Enterprise Reform and Development Society .
The event selected seven awards, including “Special Contribution Award”, “Outstanding Enterprises Award”, “Outstanding Figures Award” and “Poverty Alleviation Award”.
Hundreds of leaders, experts, scholars and representatives of well-known enterprises attended the ceremony. They shared their views and made suggestions on hot topics such as how to achieve goals, how to fulfill their social responsibilities in a new era and how to take the initiative to win the battle of poverty alleviation.
In recent years, state-owned enterprises have made outstanding achievements in fulfilling their social responsibilities. They support national key poverty-alleviation target counties, actively participate in local economic development, promote coordinated regional development and fulfill the responsibility of building ecological civilization.
As a large state-owned commercial bank, PSBC has always adhered to the strategic position of a large retail bank serving the community, small and medium enterprises, agriculture, farmers and rural areas by forming a differentiated development strategy, establishing a unique position in the Chinese financial system and exploring the road of sustainable development.
PSBC has nearly 40,000 branches, 150,000 farmers withdraws outlets and 100,000 self-service machines together covering 99 percent counties in China except Hong Kong, Macao and Taiwan regions, all playing a backbone role in the work of inclusive finance.
It constantly innovates products and created a number of product lines to achieve full coverage of agricultural markets.
The bank issued personal business loans totaling 2 trillion yuan (US$ 304.3 billion), with small and micro loans totaling 4 trillion yuan (US$ 608.6 billion), effectively alleviating financial difficulties in agriculture, farmers, rural areas, and small and micro enterprises. It provides funding for implementation of national poverty alleviation policies and supports a large number of characteristic enterprises.
The term "financial inclusion" has gained importance since the early 2000s, a result of identifying financial exclusion and its direct correlation to poverty. The availability of financial services that meet the specific needs of users without discrimination is a key objective of financial inclusion. The United Nations defines the goals of financial inclusion.