OREANDA-NEWS. February 15, 2011. Agricultural Bank of China Limited (ABC) convened the 2010 Working Conference in Beijing. The Conference reviewed work in the past three years, analyzed the new situation and environment confronted by ABC and set up the targets for the 12th Five-Year Plan period and 2011 priorities, reported the press-centre of ABC.  

Mr. Xiang Junbo, Chairman of ABC, attended the Conference and delivered an important speech, requiring the whole bank to lay a sound management foundation, improve the quality of its development and accelerate the pace of building itself into an outstanding large listed bank in a new start.

The Conference fully recognized ABC's performance in the reform and development over the previous three years and pointed out that, ABC has accomplished all targets set for the first phase of the "3510" development strategy and stood on a new standing point after three years of hard efforts. ABC has found out a set of new concepts and plans for its reform and development, which are of huge and far-reaching significance to ABC's further implementation of the "3510" development strategy and building itself into an outstanding large listed bank. ABC will adhere to further improve and develop these new concepts and plans.

Based on the comprehensive analysis of home and abroad situation, the Conference defined ABC's target in the 12th Five-Year Plan period. ABC should perfect corporate governance mechanism, upgrade value creation ability, increase risk management, strengthen core competitive edge, optimize management team and enhance social public image till the end of the 12th Five-Year Plan period.

The Conference stressed that, the year of 2011 is the first year of the 12th Five-Year Plan period and also the first year for ABC to build itself into an outstanding large listed bank. ABC should focus on the general target of building itself into an outstanding large listed bank, lay a sound management foundation, effectively guard against risks, strive to create value, strengthen the party construction, enhance core competitive advantages and sustainable development capability, and make a good start for ABC's target of the 12th Five-Year Plan period and building itself into an outstanding large listed bank.

Mr. Xiang Junbo emphasized in the report that, ABC must focus on the main theme of "Strengthening the Foundation of Management and Consolidating the Basics of its Development", launch the event of "The Year of Fundamental Management Enhancement" and provide strong foundation support to build ABC into an outstanding large listed bank.

Mr. Xiang Junbo required that, ABC should speed up the pace of business development and further enhance the value creation capability while strengthening the management foundation in an all-round way. This year, ABC will continue to implement the county-level "blue ocean" market strategy and the strategy of developing key cities preferentially, strive to realize the pattern of coordinated development of both county area business and urban business, take serving "Sannong" as ABC's ultimate target. ABC will push ahead with urban business operation transition and further enhance the market competitiveness.

Mr. Xiang Junbo stressed that, ABC would strengthen the party construction in order to forge a new pattern of party construction in the new era. ABC will follow the spirits of Party Construction Work Conference, adapt to the changes in home and abroad financial situation and new requirements of corporate governance of listed banks, continue to the cause of reform and innovation, enhance professional level effectively and take advantage of political guidance and organizational support of party construction, all contributing to ABC's target of building itself into an outstanding large listed bank.

Mr. Xiang Junbo urged all staff of ABC to make firm determination and perform efficient measures to build itself into an outstanding large listed bank in a new start, thus making tribute to the 90th anniversary of CCP's foundation and the 60th anniversary of ABC’s foundation.

The Conference adopted the video means which covered the management teams of all county-level sub-branches across ABC. All CCP committee members of ABC, all directors, supervisors, Board Secretary, all professional directors, presidents of tier-1 branches, deans of training colleges, presidents of branches directly under the Head Office, president of Suzhou Branch, all heads of audit sub-bureaus, heads of all department in the Head Office, heads of all inspection teams and inspection groups on special projects, and the persons in charge of all overseas institutions attended the Conference at Beijing main venue.