The Bank of Communications, the first nationwide shareholding commercial bank in China, has established effective control and management systems and gained marked achievements.

The balance of savings deposits in the bank amounted to 423.7 billion yuan in 1999, a rise of 12.2% over a year earlier and the balance of loans came to 287.4 billion yuan in 1999, an increase of 8.6% over a year ago. Its profits hit 2.7 billion yuan, a slight hike over the previous year and its asset quality stand at a higher level.

In recent years, the bank has placed premium on support to national construction while guarding against financial risks. It has introduced 6 control systems (controls on management, risks, clients, internal auditing, computer and personnel) and 6 management systems (liability ratio, internal rating, internal post grading and authorization, clients, two-level (head office and branches) management and vertical auditing). At the same time, the bank has instituted the auditing system and started auditing acceptance bills and credit cards in the second half of 1996, playing an important role for stopping loopholes in management.

The bank initiated in 1997 head office-branch joint loans in support of the development of the national economy. By the end of 1999, the joint loans were made for roads, bridges, power and other infrastructural facilities, postal, telecom and other hi-tech enterprises and auto, oil and other pillar industries. Its Hongkong branch has allowed its clients to draw Renminbi on the mainland with their foreign-currency deposits in Hongkong or to draw foreign currencies in Hongkong with their Renminbi deposits on the mainland, thus facilitating foreign enterprises to make investment on the mainland and mainland enterprises to invest abroad.

Most important, the bank is strict with its staff members.