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The 35th Anniversary of the Industrial Bank: Deep Roots, Flourishing Leaves, and Youthful Growth

The 35th Anniversary of the Industrial Bank: Deep Roots, Flourishing Leaves, and Youthful Growth

In 1979, the thunder of “making the bank truly a bank” kicked off the prelude to China’s financial reform. The southeast tide started, and on August 26, 1988, as one of the first joint-stock commercial banks, Industrial Bank came into being on the bank of the Minjiang River.

The 35th anniversary is the scale of time, the ruler of development, and the pace of forging ahead. Since its establishment 35 years ago, Industrial Bank has given full play to its unique advantages of being rooted in Fujian, inherited and carried forward the important concepts and major practices pioneered by General Secretary Xi Jinping when he worked in Fujian, integrated the feelings of family and country into unremitting struggle, and walked with the times, the motherland and the people , insisting on “exploring ways for financial reform and making more contributions to economic construction”, rooted in the land of Bamin, extending branches and leaves to the whole country and the world, and realized multi-level cross-domain of regional banks, national banks, listed banks, and banking groups , occupies an important position in the domestic and foreign financial markets, and has written a chapter in the development of financial development with Chinese characteristics.

At present, Industrial Bank’s total assets are nearly 10 trillion yuan, and its annual net profit exceeds 90 billion yuan; by the end of 2022, the balance of various deposits will be 4.74 trillion yuan, and the balance of various loans will be 4.98 trillion yuan; the accumulated cash dividends will exceed 170 billion yuan. Paying taxes of nearly 400 billion yuan has created extraordinary value for shareholders, investors and society…

Persist in taking root in Bamin

Bravely serve as the main force and vanguard of Fujian’s finance

Fujian is an important birthplace and practice place for Xi Jinping’s socialist thought with Chinese characteristics in the new era. Take root in the land of Bamin, and be the first to get the atmosphere. Following the grand blueprint for the new Fujian drawn by General Secretary Xi Jinping, Industrial Bank has deeply absorbed the rich nourishment of new ideas, grasped the pulse of Fujian’s development, bravely acted as the main financial force, and played a magnificent financial symphony among the mountains and rivers of Fujian. At present, Industrial Bank’s various deposits and loans in Fujian Province are 2.64 trillion yuan, ranking first among financial institutions in the province; the total balance of credit and non-credit financing provided is nearly 2 trillion yuan; it has been awarded “Fujian Economic Five-Star Bank” for two consecutive years Organization” title.

In the early 1990s, the Industrial Bank, which started at the foot of the “Three Mountains”, quickly spread across the land of Fujian, starting the “two-way rush” between finance and Fujian’s economic and social development. Over the past 35 years, from a bank to a bank-based group army, Industrial Bank has successively established Industrial Trust, Industrial Consumer Finance, Industrial Asset Management, Industrial Bank Wealth Management, Industrial Puhui Technology in Fujian Province, and continued to grow the financial industry in Fujian Province. Promoting the total assets of local legal person financial institutions in Fujian to a new level of 12 trillion yuan with a proportion of over 70%, the cumulative tax payment in the province exceeded 180 billion yuan, ranking firmly in the first echelon of taxpayers in the province.

With the spring breeze of reform and opening up, the land of Bamin has great plans. The Industrial Bank, which has always taken serving the development of Fujian as its own responsibility, was “not full-fledged” when it was first established, but it had the “big courage” to serve the construction of large projects. The first expressway built in Fujian in 1994——Quanxia Expressway, Ningde Feiluanling Tunnel, Longyan Banliaoling Tunnel, Xiamen Shigushan Overpass and other key projects are all engraved with the footsteps of Industrial Bank’s dedication to service. In recent years, Industrial Bank has led a syndicated loan of 12.6 billion yuan to help the second-phase expansion of Fuzhou Changle International Airport, diversified financing to support the construction of Xiamen Southeast International Shipping Center, and a syndicate of tens of billions to support the upgrading of the CATL power battery industry chain… Focusing on major project construction , promote infrastructure, protect people’s livelihood, help the old and renovate, and promote industries. With the responsibility and actions of the financial leader, we will strive to promote high-quality development in Fujian.

The wind blows from the end of Qingping. As early as 2000, Xi Jinping, then governor of Fujian Province, made a strategic decision to build a “digital Fujian” and put forward the strategic concept of building an “ecological province”. From “Digital Fujian” to “Digital China”, from “Ecological Fujian” to “Beautiful China”, digitalization and greening have become the general trend of economic and social development in my country and even in the world.

“Ecological Fujian” breeds “Green Development”. Under the guidance of Xi Jinping’s thought on ecological civilization, Industrial Bank took the lead in exploring green financial business in Fujian in the year when the “Two Mountains Theory” was proposed, becoming a pioneer in green finance in China. Over the years, Industrial Bank has used finance as the pen and green as the ink, embodying righteousness and profit, and has been working tirelessly. “Financing + Intelligence” supports the construction of Sanming and Nanping provincial-level green financial reform pilot zones. The Provincial Department of Ecology and Environment signed a strategic cooperation agreement to jointly create a model for environmental governance in Fujian, and innovatively launched the country’s first long-term carbon sink loan, forest right loan, forest ticket loan, etc., to make forests greener and farmers’ income… in Fujian Province The balance of green financial financing exceeded 150 billion yuan, which continued to add luster to the “high-quality” and “high-quality” new Fujian ecological picture.

“Digital Fujian” gave birth to “Digital Prosperity”. Over the years, Industrial Bank has been adhering to the strategy of “prospering the bank with technology”, embracing the trend of digital development, and helping Fujian to create a new digital economy highland with high-quality “digital prospering” construction. On the one hand, it will accelerate its own digital transformation, continue to increase investment in science and technology, start the implementation of the plan for ten thousand talents in science and technology, establish a financial technology research institute in Fuzhou, strengthen core technology research, and actively create a highland for financial technology innovation in Fujian; on the other hand, focus on digital industrialization And industrial digitization, build a financial service system that matches the digital economy, and deeply promote the deep integration of the digital economy and the real economy. Currently, the loan balance in the digital economy in Fujian Province exceeds 60 billion yuan.

Fujian is a province with a large private economy. This year, it further sounded the clarion call to implement the strategy of strengthening the private economy in the new era. Industrial Bank has always adhered to the “two unwavering”, inherited and carried forward the “Jinjiang experience”, and made friends with many private enterprises such as Anta, Hengshen Holdings, Lilang, Fengzhu Textile, etc., and wrote heart-warming stories of growing up together one after another. As of the end of June this year, the bank’s loan balance to private enterprises in Fujian Province exceeded 150 billion yuan, serving more than 120,000 various market entities in Fujian’s private economy. From 2019 to 2022, Industrial Bank was rated as “Outstanding Contribution Bank Serving Private Enterprises and Small, Medium and Micro Enterprises” in Fujian Province for four consecutive years. The newly released “Industrial Bank’s Strategic Action Plan for Serving Fujian Province’s Private Economy in the New Era” further improves the long-term mechanism of “dare to lend, willing to lend, and able to lend”, and widely introduces financial vitality to help the private economy become a province like green water and green mountains. proud.

Reform and innovation for sail

Continue to move towards the national modern commercial bank with “three outstanding”

“Dare to be the first in the world, and you will win if you fight hard” is the distinctive spiritual trait of Fujian people and Fujian enterprises. Fujian is a pioneering province of reform and opening up. As a product of financial reform, Industrial Bank has shouldered the mission of exploring the way for financial reform since its birth. Inheriting the gene of hard work and innovation, and keeping in mind the original mission, Industrial Bank has devoted itself to the torrent of the era of reform and opening up and the great process of national rejuvenation, anchoring the “three outstanding” directions of outstanding service capabilities, outstanding operation and management characteristics, and outstanding market and brand image, and accurately grasping the direction of economic and social development. The general trend of development, forward-looking layout, following the trend, striving to be the first, and featuring and differentiated operations have become a beautiful landscape in China’s banking industry.

As the first batch of joint-stock commercial banks, Industrial Bank adopted the modern corporate organizational structure of the joint-stock system at the beginning of its establishment, truly “jumping out of government-run banks” and continuously improving its customer-centric and market-oriented systems and mechanisms. At the same time, always adhere to the leadership of the party, organically combine the modern banking management system with China’s national conditions, and establish and improve the corporate governance mechanism of commercial banks with Chinese characteristics. In the process of exploration, innovation and self-sublation, we have forged the distinctive characteristics of market orientation, keen sense of smell and flexible mechanism.

At the beginning of its establishment, Industrial Bank keenly captured the “inconspicuous” securities fund clearing business in the eyes of peers, and actively served customers who were “disliked” by others. The tentacles extend from bank-securities to bank-bank cooperation. It is the first to launch the first inter-bank cooperation brand bank-bank platform in China. Focusing on the needs of economic development, it expands to inter-bank finance, capital transactions, asset management, asset custody, investment banking and other fields, forming a It has established a unique investment bank and financial market sector, laying a solid foundation for Industrial Bank to create a wealth bank and investment bank business card.

In the new millennium, the contradiction between economic growth and environmental protection has become increasingly prominent. In the process of exchanging and learning with international advanced financial peers, Industrial Bank has seized the opportunity of green financial development in a forward-looking manner. In 2006, it launched the first energy efficiency financing project in China. In 2008, it was the first to adopt the Equator Principles in the Chinese banking industry. After more than ten years of hard work, it has worked hard in energy conservation and emission reduction loans, pollution emission rights finance, carbon finance, green financial bonds, and blue bonds. Created multiple “firsts” in fields such as financial leasing, building a conglomerate, multi-level and comprehensive green financial product service system covering trust, financial leasing, funds, wealth management, etc. The road of sustainable development of “into gold” has opened up a new world of green bank construction.

The scroll of history is always unfolding successively. Surrounded by major changes unseen in a century, the “Double Carbon” strategy has just begun, scientific and technological innovations are changing with each passing day, and common prosperity is gradually unfolding. On the track, continue to polish the “three business cards” of green bank, wealth bank and investment bank, continue to take reform and innovation as the sail, and enter the new voyage of a national modern commercial bank with more distinctive “three outstanding”.

Anchor high-quality development in the “big country”, and the “three business cards” of Industrial Bank Green Bank, Fortune Bank, and Investment Bank are even more eye-catching. At the end of 2022, the balance of green financing was 1.63 trillion yuan, and the balance of green loans ranked first among domestic joint-stock commercial banks; the scale of wealth management exceeded 2 trillion yuan, and the comprehensive wealth management ability ranked first among national commercial banks for 23 consecutive quarters; the group’s corporate financing balance (FPA ) was 7.84 trillion yuan, and the underwriting scale of non-financial corporate bonds was nearly 700 billion yuan, ranking second in the industry.

Continuously expanding the new strategic space in serving the national strategy, Industrial Bank has accelerated the deployment of “five new tracks” of inclusive finance, science and technology innovation finance, energy finance, auto finance, and park finance to build new distinctive advantages. By the end of 2022, the bank’s inclusive small and micro loan balance, science and technology innovation enterprise loan balance, energy finance financing balance, auto finance financing balance, and park financial assets will reach 404.2 billion yuan, 343.7 billion yuan, 430.2 billion yuan, 299.7 billion yuan, and 172 million yuan, respectively. trillion yuan, with an average growth rate of 33%.

Times have changed and technology has iterated, but the essence of commercial banking services will not change. Industrial Bank always adheres to customer-centricity, upholds the value of financial inclusion, continues to improve the group-oriented and diversified financial service system, uses financial technology to extend service tentacles, improve service efficiency, and reduce service costs, serving thousands of industries and thousands of households. At present, it serves more than 1.3 million corporate customers and nearly 100 million residential customers.

With the trust and support of hundreds of millions of customers and the advantages of unique operations, the 35-year-old Industrial Bank has ushered in a new bright moment on the road of pursuing dreams: it was selected as the lead bank in the Asia-Pacific region of the Steering Committee of the Equator Principles Association, and participated in international standards such as the Equator Principles Revised to make China’s voice heard on the international stage of green finance; its market position is steadily rising. In 2023, it will be ranked 17th among the top 1000 global banks by The Banker in the UK, an increase of 551 places from the first time it was listed in 2001. It will be ranked by Fortune Ranked No. 223 in the world’s top 500; becoming the only commercial bank that has maintained the highest rating of A in the domestic banking industry in MSCI’s global ESG rating for four consecutive years.

Inheriting the “Three Strategies”

Continuing to write the chapter of serving Chinese-style modernization

At present, changes in the world, times, and history are unfolding in unprecedented ways. How will the Industrial Bank carry on the past and usher in the future, bravely stand at the forefront, and compose the song of Industrial Bank in the new era?

Tracing traces and origins, the avenue is like a stone, taking history as a mirror, and creating the future. The three basic strategies of “strictly governing the bank, running the bank with experts, and prospering the bank with technology” are not only the magic weapon for the success of Industrial Bank’s leapfrog development in the past 35 years, but also the strong confidence to cope with the changing situation and win the future.

Banks are inherently vulnerable. Throughout the history of commercial banks, there are many cases of failure and government takeover due to improper risk management and low asset quality. At the beginning of its establishment, the Industrial Bank put forward the policy of “operating in accordance with the law, operating in a stable manner, and operating in a civilized manner”. The three basic strategies proposed later were led by “strict governance”. Over the past 35 years, Industrial Bank has always adhered to strict governance of the party and the bank, prudent and steady operation, firm focus on the right direction, and strengthening the prevention and control of various risks, thereby avoiding major risks while seizing major opportunities. Whether it is the economic governance and rectification at the start-up stage, or the Asian financial turmoil encountered in the second start-up, the sudden international financial crisis in 2008, or the strong supervision in the new era, the governance of financial chaos, and the impact of the epidemic, it has been tested in the baptism of wind and rain. , Moving forward steadily, bursting out with strong resilience and vitality.

In the new era and new journey, Industrial Bank insists on taking political construction as the guide, comprehensively promotes party building, solidly promotes thematic education, persists in arming the mind, guiding practice, and promoting work with the party’s innovative theory, and integrates the party’s leadership into all aspects of corporate governance , promote the integration and progress of party building and business development, deeply promote the comprehensive and strict governance of the party and business, promote the reform of party building and discipline inspection, improve the inspection work mechanism, continue to rectify the “four winds”, and promote the “three non-corruption” in an integrated manner. Effectively transform the party’s political advantages into development opportunities, and ensure high-quality development with high-quality party building.

Century-old business, talent-oriented. It is precisely under the guidance of the strategy of “experts running the bank” that generations of Xingye people have expanded the territory and overcome obstacles, achieving the glory of Xingye today. In the past thirty-five years, from an entrepreneurial team of 68 people, it has grown into an industrial division of 68,000 people. Communist Party members accounted for 35% of the bank, employees with a bachelor’s degree or above accounted for 94%, and employees with a master’s degree or above Accounting for more than 20%, a high-quality, professional and valuable talent team has been built.

In the new era and new journey, Industrial Bank insists on taking talents as the first resource, continues to deepen the reform of talent system and mechanism, and accelerates the growth of the seven “iron troops” of digital, compound, professional, high-end, comprehensive, international and craftsman talents. Implement the “Two Ten Thousand Talents Plan” for green financial talents and scientific and technological talents. Established the Institute of Southeast Asia and established a representative office in London to accelerate the gathering of international talents. Build and make good use of the main position of the Party School of the Industrial Bank of the Communist Party of China (Advanced Training Institute), continue to improve the talent structure and training system, and cultivate more professionals. Explore the implementation of the financial special commissioner system, joint talent customization classes and other new models of joint construction and education of talents, gather talents from all over the world, and let the “Maxima” compete on the stage of Xingye and make contributions.

With the advent of the digital age, the business logic of the banking industry is undergoing fundamental changes, from competition in funds and prices to competition in scenarios and ecosystems. Guided by the strategy of “prospering the bank with technology”, the Industrial Bank continues to promote reforms, change concepts, increase investment, expand teams, build platforms, and set up scenarios, and accelerate the transformation of the role of science and technology from supporting guarantees to leading development. In the past 35 years, the number of scientific and technological talents has grown from “a few young men” to nearly 7,000, and the investment in science and technology has increased year by year, accounting for 3.71% of operating income; from the establishment of the computer department to the establishment of “one committee, three departments, one institute and one department” , from one of the largest commercial bank information system providers in China, to being approved as the 10th designated digital RMB operating institution, from online banking “outstanding” to online ecology “full of spring”, Huanxin released “five major online platforms “Integrating financial services into more production and living scenarios, the prospect of “digital prosperity” is gradually unfolding.

In the new era and new journey, Industrial Bank insists on regarding digital transformation as a life-and-death battle, focusing on the goal of “building the ability to connect everything and building the best ecologically empowered bank”, highlighting digital innovation, continuously increasing investment in technology, strengthening the talent team, and consolidating Technology base, improve the ecological scene, use the “enterprise-level, standardized” methodology to promote the reshaping of the business structure and enterprise structure, steadily promote the construction of a new generation of distributed core systems, build a computing power layout suitable for “counting in the east and calculating in the west”, and build a business Digital brain, explore digital operation, digital operation, strengthen system risk, data risk, model risk and other technological risk management and control, and strive to evolve into a “new species” that understands technology best among banks and technology companies best understands finance.

With the aim of “prosperity for a hundred years”, 35 years old is just in the prime of life. Taking the 35th anniversary as a new starting point, Industrial Bank will thoroughly study and implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, turn the “big country” into a “priority of action”, unswervingly follow the road of financial development with Chinese characteristics, and serve In the construction of New Fujian, we will take deep roots, radiate the whole country and flourish in the world, better serve the high-quality development of the real economy and the needs of the people for a better life, and strive to create new glory in the new era and new journey!

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