OREANDA-NEWS. August 15, 2011. Agricultural Bank of China Limited (ABC) held 2011 interim working conference in Hangzhou, Zhejiang. The main tasks of the meeting were to analyze the internal and external situations of ABC and arrange its work for the second half of the year. Mr. Xiang Junbo, Secretary of the CPC Committee and Chairman of ABC, delivered a speech at the conference. He emphasized that all the staff should be mindful of the potential challenges and consolidate fundamentals of management to enhance sustainable development of ABC, reported the press-centre of ABC.

As Mr. Xiang Junbo pointed out, following the strategic plan of the CPC Central Committee and the State Council, the new CPC Committee of ABC formulated and implemented the 3510 Development Strategy with 'Sannong' (agriculture, rural areas and farmers) as the eternal service theme. It thus developed a sustainable new road for serving 'Sannong' with ABC's characteristics, considerate services and controllable risks. The new CPC Committee started a new stage for building ABC into a modern commercial bank based on the joint-stock reform. Besides, ABC realized going public and made government, shareholders and society satisfaction. Within just a few years, the new CPC Committee has thoroughly remolded ABC. The new bank is in its best ever stage in terms of development momentum, financial foundation, social influence and staff morale.

Mr. Xiang Junbo pointed out that ABC's reform and development would be confronted with many unpredictable risks and challenges against the background of complicated and changeful economic environment, accelerating economic restructuring and continuously deepening financial reform. The staff should be prepared for danger in times of safety and more mindful of the potential danger instead of being satisfactory of minor achievements, a remnant of farming culture and petty-farmer consciousness. They should keep denying and outdoing themselves, and concern the competitiveness and prosperity of ABC. They should fulfill their duties in a more active and forward-looking manner to bring forward the reform and development of ABC.
Mr. Xiang Junbo required ABC to keep consolidating basic management as a fundamental and beneficial job in the long run, and to improve its capability of sustainable development by focusing on risks, processes, products and team building. ABC shall consolidate the foundation of risk management and observe the bottom-line of risks by focusing on the macro systematic risk. Meanwhile, it shall integrate risk management with business operation and keep controlling risks in key areas. It shall promote the optimization of core processes to accelerate banking building process, and systemize and optimize the core business process based on Process Modeling. Focusing on the modern operational system building, ABC shall improve the efficiency of counter services. Taking the opportunity of organizational structure adjustment, ABC shall promote the lasting optimization of organizational process. It shall also streamline the innovation mechanism, enhance its product innovation and change its concept of innovation, so as to introduce better products. Besides, ABC shall further strengthen the building of "Four Teams" (teams of leading cadres, reserve cadres, professionals and technicians, and product managers) to fully tap human resource potentials, and improve the staff team through talent selection, nurturing, usage and encouragement.

Mr. Xiang Junbo stressed that ABC should stick to the direction of serving 'Sannong' despite the joint-stock reform and keep its efforts in 'Sannong' service despite the public listing. Following the operating philosophy of "achievement consolidation, fine management, risk control and sustainable development", ABC shall unswervingly implement the Blue Sea strategy concerning Sannong and at county level. Meanwhile, ABC shall pay attention to case prevention and control to ensure the safety of its credit funds by promoting the interest pattern of the CPC and strengthening the construction of an honest and clean administration, and the fight against corruption.