| CCB Won the Bidding as the Collecting Agency of Non-Tax Revenue
for the Central Finance
¡øThe Scene of the Bid Opening Ceremony
On April 1, 2005, China Construction Bank (CCB)
won the bidding as the collecting agency of non-tax revenue for
the central finance. It is the second successful biding by CCB in
the centralized collection and payment business for the national
treasury following the successful bidding as the agent bank of the
authorized payment for the central finance.
On March 30, the Ministry of Finance held the bid opening ceremony
for the collection of non-tax revenue of the central finance in
Beijing Century Jinyuan Hotel. 12 domestic commercial banks with
qualification authorized by the People¡¯s Bank of China participated
in this bid, including Industrial and Commercial Bank of China (ICBC),
Agricultural Bank of China, Bank of China, China Construction Bank,
Bank of Communications, CITIC Industrial Bank, China Merchants Bank
Co., LTD, Shanghai Pudong Development Bank, Everbright Bank of China,
Huaxia Bank, Shenzhen Development Bank Co., LTD.
President Chang Zhenming attended the bid opening ceremony on behalf
of China Construction Bank and presented the bidding scheme at the
scene. Assistant President Chen Zuofu and heads of related departments
of the headquarters were also present at the ceremony.
The collection of non-tax revenue for the central finance is an
important part of the reform in the national treasury management
system. It is also an important business involving thousands of
collection executing bodies across China and thousands of collecting
items adding up to RMB 300 billion. In 2002, the Ministry of Finance
undertook the reform in this field and decided to select the agent
bank through bidding.
In 2005, with the deepening of reform and the development of business,
the Ministry of Finance decided to re-select the agent bank through
bidding. Having received the bidding invitation from the Ministry
of Finance in March, the party committee of the headquarters of
CCB attached great importance to it and immediately organized the
bidding working group led by the General Manager of the Institutional
Banking Department and composed of backbone staffs. President Chang
Zhenming led the working group by himself to carry out consultations,
negotiations and communications with leaders of the Ministry of
Finance. He also listened to the reports made by the bidding working
group several times. With the earnest preparation for almost 20
days, the bidding document with nearly 20 thousand words has been
completed, making CCB ready to participate in this bidding.
This business involves the relations between multiple parties including
the Ministry of Finance, collection executing agencies, payers and
the agent bank and requires that all collected funds must be transferred
to the special account of the central finance through the internal
fund system of the bank on a daily basis and that the large amount
of attached information must be uploaded as well, which puts a tough
requirement upon every business process of the agent bank, including
account opening and management, fund remittance, transfer and clearance,
account check, information feedback and risk control. CCB boasts
such advantages as sound organization, strong leadership, strict
internal control system, sufficient competent staffs and departments,
advanced and mature system and rich service experiences. Therefore,
having gone through the strict evaluation of the Ministry of Finance,
CCB won the bidding as the agent bank. The comprehensive development
of this service in CCB will bring the substantive fund flow on a
yearly basis, considerable fund deposition and related high-quality
client groups.
The Ministry of Finance undertook a series of reform
in the national treasury management system since 2001. CCB has been
all along paying close attention to the reform and to various new
agent businesses. We have successfully won the qualification as
the agent of the authorized payment for the central finance and
maintained No.1 status in terms of market shares. The successful
biding as the collecting agency of non-tax revenue for the central
finance will not only open up a new field for CCB to develop agent
businesses but also provide favorable conditions for our branches
at all levels to strive to serve as the collection agency of non-tax
revenue for local finance.
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