With the help of the “Care Fund” established by the 300,000 staffs of China Construction Bank (CCB), over 1,400 students from poor families nationwide will be admitted to 86 key institutions of higher learning on September 1, 2006. Since its establishment ten years ago, the CCB “Care Fund” has donated RMB34.25 million to more than 14,600 person-time poor university students and 24 CCB “Hope Primary Schools” located in 14 provinces, autonomous regions and municipalities.

CCB was founded in October 1954. It has made remarkable contributions to China’s economic development and social progress, especially the key national construction projects over the past more than 5 decades. In the new historical period, CCB is accelerating the transition towards a modern commercial bank. In October 2005, CCB, after financial reorganization and shareholding transfer, became the first state-owned commercial bank completing overseas listing. The rapid and healthy business growth of the bank after its IPO is well recognized by the investors and the public.

While extending full support for the national economic construction and striding towards a leading international commercial bank, CCB always pays great attention to its social responsibility and makes relentless efforts to strengthen the moral education of its staffs and improve corporate culture. Believing that “It is impossible for businesses to grow without the support of the society, so businesses should create value for the public and contribute to the building of a harmonious society”, CCB integrates its social responsibility into business development strategies and advocates the traditional virtue of the Chinese nation of respecting teachers and valuing education, helping the poor and the needed and acting bravely for a just cause. It pools huge support for social charity and the building of a harmonious society and promotes the socialist ideological and ethical progress with tangible acts.

As early as in 1992, the more than 18,000 staffs of CCB Hubei Provincial Branch donated over RMB2 million, establishing the first enterprise charity foundation in China – Hubei “CCB Cup” Foundation of Respecting Teachers and Valuing Education to reward excellent schoolmasters, teachers and students annually. The People’s Daily once published a headline article CCB Hubei Branch Gives Top Priority to Respecting Teachers and Valuing Education, speaking highly of the branch’s social citizenship. Today the foundation has grown into the Association of Respecting Teachers and Valuing Education. With more than RMB10 million worth of donations from the Association, 770 plus schoolmasters, teachers and students have been rewarded, more than 3,000 dropouts returned to schools and 258 poor university students completed education. Meanwhile, the Association also established a postgraduate educational fund in 7 universities including Peking University, Tsinghua University and Fudan University.

In 1996, the practice of CCB Hubei Provincial Branch was copied throughout the bank. The 300,000 staffs of CCB donated a total of RMB32.56 million, establishing the CCB Care Fund. The headquarters decided that each year it would donate RMB2 million to fund the poor students of 86 institutions of higher learning nationwide including Peking University and Tsinghua University, RMB500,000 to the China Youth Development Foundation (CYDF) to build “CCB Primary School” in the poverty-stricken or disaster-hit areas and RMB500,000 to the China Foundation for Justice and Courage to reward the heroic deeds. All of those donations come from the interest income of the CCB Care Fund. According to statistics, by June 2006, the CCB Care Fund has donated RMB34.25 million of which RMB20 million went to 86 institutions of higher learning, helping 14,600 person-time poor students, RMB5 million went to the CYDF, building 24 “CCB Primary Schools” in 14 provinces, autonomous regions and municipalities and RMB5 million went to the China Foundation for Justice and Courage. In addition, the Fund donated RMB400,000 to the Spring Buds Program of CYDF in 1997, assisting the dropout girls in poverty-stricken areas to return to schools, RMB500,000 to the areas hit by snow disaster in Inner Mongolia in 2001 and RMB150,000 to Xuanwu Hospital, Beijing to fight against the SARS epidemic in 2003. CCB also made large donations to the “Water Cellar for Mother Program” in Northwestern China and the “Cataract Treatment Train Project” as well as to disaster-hit areas. In 2005, the bank donated RMB3 million to the Red Cross Society of China to set up the “China Construction Bank Red Cross Youth Development Fund”. It also donated RMB4,5 million to Hunan, Guangdong, Fujian, Guangxi, Zhejiang and Hainan provinces which suffered seriously from typhoon Bilis, helping the locals to overcome difficulties and rebuild their home.

The reporter also notices that in the bright business hall of CCB outlets nationwide there are donation boxes. It is said that in 2002 CCB, together with the CYDF, initiated the “change charity box” plan to help the dropouts in poor areas return to schools and especially spent RMB1 million in making the donation boxes. By the end of last year, the boxes have received altogether RMB2.68 million which were donated by both the CCB staffs and the public. CCB has been awarded various honors including the Leading Unit with Enthusiasm in Public Welfare, the Outstanding Award on Care for Children and the China Red Cross Love Medal.