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Bank of China Repays the Society Wholeheartedly


2008-07-01

 

 

 

 

Supporting the Poverty-stricken and Disaster Relief 

Bank of China has been making increasingly larger investment in underdeveloped regions and mountainous areas by carrying out projects such as road construction, drinking water program, elementary education, forestation and breeding instruction, so as to facilitate the economic growth.

In case of natural disasters, Bank of China has worked to its best to assist local civil affairs departments and Red Cross in disaster relief, and ensures proactive participation in donations and post-disaster reconstruction.

During the summer of 1998, the Yangtze River, Songhua River and Nenjiang River basins were stricken by overwhelming floods. Bank of China organized, via the internet, a donation named "The Yangtze River Global Donation Online". It provided a convenient platform for overseas Chinese and those who were willing to offer helping hands. Also received were cash and material donations from staff of domestic and overseas branches, with a total amount up to tens of millions.

The spring of 2003 witnessed the outbreak of SARS.

Bank of China urged its branches and workforces at all levels to take precautions, and made a donation of RMB 7.35 million in cash and medical equipment including disinfectant, alcohol swab and protective facial masks to Guangdong and Beijing. Bank of China (Hong Kong) Limited, a subsidiary of the Bank, dispatched "health-care kit" gratis to local elderly people who lived alone through Hong Kong Social Welfare Department. It also provided frontline medical workers with free medicinal herb in cooperation with Chinese Medicine School of Hong Kong Baptist University. Bank of China was awarded "Fighting SARS, Conveying Affection" certificate by Beijing Disaster Donation Organization Management Centre in the same year.

At the end of 2004 when quake and tsunami struck the Indian Ocean, Bank of China launched individual and group donations on a voluntary basis to disaster-stricken countries, with a total amount of RMB 13.49 million. Bank of China Hong Kong Charity Foundation, founded by Bank of China (Hong Kong) Limited, took an active part in calling for donations among local citizens. A fund of HKD 7.02 million was thus raised, of which HKD 4.8 million was from staff of Bank of China (Hong Kong) Limited and the Foundation. These funds were sent to the disaster area through Hong Kong Red Cross.

The total amount of donations reached RMB 11,786,160,000 in 2007.

At the beginning of 2008, a rare snow and ice storm attacked many regions in southern China and posed great challenges to local people's life. Bank of China, together with its staff, responded swiftly and donated over RMB 12 million to these regions. In order to help the victims regain their normal life and production, Bank of China opened a "Green Finance Channel", providing financial support for rescue services. Branches in disaster areas overcame various difficulties to ensure normal operation of their outlets, which gained wide appraisal from the society.

 

Supporting Education

Bank of China has positively implemented the state policy of promoting education on an equal footing. In 2004, Bank of China became the exclusively authorized entity to offer State-subsidized student loan for 115 universities designated by the government. By the end of 2007, Bank of China had issued loans totalling RMB 7.826 billion to 795,700 needy students from these universities, with a loan balance of RMB 6.901 billion.

Bank of China has rendered vigorous support to the educational undertakings and the improvement of school management capabilities in poverty-stricken areas. From 1994 to 2001, the Bank had made donations of RMB 7.9 million in cash and materials to the former revolutionary base areas in western Fujian for the construction of 15 Hope Primary Schools and 13 school buildings, which had benefited over 10,000 students. In 2002, the Bank built five Hope Primary Schools with one in each of these places: Yongshou County, Chunhua County, Changwu County, Xunyi County of Shaanxi Province and the Fifth Agricultural Division of Xinjiang Production and Construction Corps. The Bank also supported the construction of "Love Building" in No. 1 Primary School of Chengguan Town in Jinchang City, Gansu Province in 2005. In 2006, the Bank extended its helping hand to a Hope Primary School in Qinghe Town of Xinjiang. In 2007, the Bank took a share in the establishment of Guoshoujiu Financial Hope Primary School in Hong'an County, Hubei Province, with an aggregate donation of 3.5 million.

Bank of China (Hong Kong) Limited has been distributing scholarships for outstanding students in six universities including the Chinese University of Hong Kong since 1990. The scholarships and bursaries awarded have reached an aggregate amount of HKD 10.4 million, benefiting nearly 1,100 students.

To further support education charity, the Bank with its workforce is raising money for the "Bank of China Charity Fund for Poverty Relief and Education".

 

 

Supporting Technological Innovation

 

Bank of China highly values the scientific development in the country. In 2003, in cooperation with Chinese Academy of Sciences, the Bank contributed RMB 10 million to re-establish the Tan Kah Kee Science Award Foundation, in order to reward the significant scientific achievements. This Foundation has six awards including Mathematical Sciences Award (in areas of mathematics, physics, mechanics and astronomy), Chemical Science Award, Life Science Award (in areas of biology, medicine and agriculture), Geo-science Award, Technology Science Award, and Information Technology Award. Four scientists including Fan Haifu, a crystallology specialist and member of Chinese Academy of Sciences, were granted the Tan Kah Kee Science Award for their great contributions in 2006. In 2007, Bank of China made an additional donation of RMB 10 million to the Foundation.

 

Supporting Cultural Undertakings

  • Bank of China has taken an active part in culture and sports development by supporting many art troupes and promoting cultural exchanges;
  • As the chief sponsor for the National Ballet of China, the Bank has an aggregate donation of  RMB 5 million to its credit;
  • The Bank has sponsored the Juvenile and Female Chorus affiliated to China National Symphony Orchestra for many years with donations up to RMB 4 million;
  • The Bank is proud to be the sponsor of a series of cultural activities such as the "Chinese Root" with a view to promoting the communication among Chinese compatriots at home and abroad;
  • The Bank sponsored the "Chinese Culture Year" in Paris in 2003;
  • The "Tianjin Week" events in Italy were also under the auspices of the Bank;
  • The Bank sponsored the "Beijing Olympic Games Photo Exhibition" in London, UK in 2006;
  • The Bank co-sponsored with the Royal Bank of Scotland Group Plc. the 2007 Chelsea Flower Show which had introduced the art of Chinese gardening to a western flower gala for the first time;
  • The Bank donated RMB 2 million to Expo 2010 Shanghai China for the construction of China Pavilion.

 

Extending Affection to Communities

Bank of China, with branches across the country, has reached countless households in the communities to spread financial knowledge, take care of the elders as well as support neighbourhood construction.

Overseas branches highly value the development of local communities especially the Chinese settlement, and have provided our compatriots with community services and diverse activities.

In cooperation with Bank of China Hong Kong Charity Foundation, Bank of China (Hong Kong) Limited has been devoted to public welfare in terms of education support, fitness for all, medical programs, volunteering, popularization of Chinese culture and art, promotion of environmental protection and donations for disaster areas. It has been granted "Caring Company Award" by the Hong Kong Council of Social Services for five consecutive years.

 

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