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  Home Page > Corporate Banking >Corporate Annuity Service >Service Advantages
Service Advantages

I. Prudent Operation Style

As a leading listed bank in terms of market capitalization, profits and customer deposits worldwide, ICBC has also established an unrivalled position in all the major banking sectors in China. By adhering to a prudent operation style, further implementing its transformation strategy and seeking rapid development of new businesses, the bank has consistently enhanced the sustainability of bank-wide profits and growth, and is right on its way to diversified and globalized operations. Particularly against the current backdrop of increasingly complex macroeconomic and financial situations, ICBC enjoys great advantages in coping with economic fluctuations and withstanding risks. Its solid comprehensive strength and prudent operation style have enabled the bank to provide long-term and safe annuity fund management services for enterprises and their employees for a period of up to one hundred years as determined by annuity schemes.

II. Advanced Technological Level

ICBC has staunchly upheld and implemented the “technology-driven” strategy, and maintained an absolutely leading position by technology level in the Chinese financial industry. With a technology staff of over 10,000 people and five software R&D bases and eight testing centers, the bank has put in place a sound intra-city + non-local disaster recovery system, and led worldwide by capacity, performance and technology of this system. Furthermore, its self-developed annuity business system won the technology prize awarded by the People’s Bank of China, being the only annuity management system that received such an honor in the industry. Advanced technology application systems and leading technology management levels allow the bank to maximally ensure the security and integrity of the information and properties of corporate annuity funds.

III. Well-developed Service Network

ICBC has developed the densest and most convenient service network in China, comprising outlets, ATMs, self-service banking centers, internet banking, telephone banking and mobile banking, which shapes three-dimensional customer service platforms. Being able to provide annuity management services by various means such as telephone banking, internet banking, self-service facilities, ATMs and outlets, the bank allows customers of all types to choose the service mode suiting them most. Moreover, its densely and rationally distributed service outlets make it possible to fully interface with local institutions of enterprises. Through such “localized” service mode, the bank can offer prompt and considerate annuity services by catering to the specific needs of enterprises and their employees.

IV. Universal Business License

ICBC was among the first that obtained the qualifications as manager and custodian of corporate annuity fund accounts certified by the Ministry of Labour and Social Security (currently known as the Ministry of Human Resources and Social Security) in August 2005, and was the only one that obtained both account manager and custodian qualifications among the four state-owned commercial banks. In November 2007, the bank obtained the qualification as trustee of corporate annuity funds, becoming one of the first recipients of such qualification in the banking industry. Meanwhile, ICBC Credit Suisse Asset Management Co. Ltd., a controlled subsidiary of the bank obtained the qualification as investment manager of corporate annuity funds. Hence, ICBC obtained the universal license for the corporate annuity business, which has enabled it to provide all-round annuity services based on customer requirements.

V. Leading Market Position

Having witnessed the development and regulation of China’s corporate annuity system, ICBC has now become the biggest annuity management institution in the country. Since the Ministry of Human Resources and Social Security began to release corporate annuity data, the bank has maintained an absolutely dominant position by scale of funds managed, which shows its services have been widely recognized and lays a solid foundation for it to repay the trust of customers.

VI. Extensive Service Experience

ICBC was one of the earliest financial institutions that participated in the study and design of the country’s annuity system; and also the first in China to establish its own annuity scheme and provide annuity services to the public. The bank’s annuity customers include stated-owned, collectively-owned, private, foreign-funded and other types of businesses from over 20 sectors ranging from power generation, coal, tobacco, machinery, finance, iron and steel, railway, civil aviation, publication and distribution, IT, construction, trade and pharmaceuticals. The bank has accumulated valuable service experience in establishing and implementing its own annuity system and serving a large number of customers, formed a mature annuity management and service system, and cultivated a professional and dedicated service team, capable of providing enterprises with the most professional, standardized and efficient annuity services.

VII. Diverse Value-added Services

As the annuity manager approved to provide comprehensive annuity services, ICBC can offer enterprises integrated value-added services that span product offerings by leveraging its versatile expertise and technology team. In addition, as the biggest commercial bank in China, it has the most diverse product lines among chinese banks, can provide corporate and individual customers with comprehensive financial services by coordinating bank-wide resources, and maximally meet the customized service needs of enterprises and their employees.

VIII. Professional Service Team

ICBC is committed to building a professional annuity service team; guarantees the service staff have high levels of theoretical knowledge, enterprise and passion for their work through continued and rigorous training and effective assessment and incentives; and make these professionals grasp first-hand information and familiarize themselves with all the operating procedures of the annuity business through localized operations and services. So far the bank has fostered a high-caliber annuity service team from the Head Office to the grassroots; formed a vertical service model featuring centralized management by the head office and coordinated services bank-wide; and fully leverage the advantages of its extensive service network to provide the most characteristic “localized” annuity management services to ensure professionalism and convenience.

IX. Rigorous Risk Management

As the biggest financial institution engaged in monetary and credit businesses, ICBC always attaches great importance to risk management and prevention. Having floated shares both in Shanghai and Hong Kong, the bank readily accepts the regulation of domestic and international regulatory authorities, and has greatly boosted its corporate governance and risk management capabilities. By successfully applying its experience in, concepts of and methods for risk control developed during years of business operations, the bank has adopted effective and rigorous risk control measures in terms of rules, systems and personnel to minimize incidences of error during business operation, safeguard the rights and interests of beneficiaries and ensure property and information security of annuity funds.

X. Close Relationships with Enterprises

By consistently practicing the “customer-centered” service philosophy, ICBC has carried out fruitful cooperation with enterprises in a wide range of areas including deposit settlement, project loan, fee-based business, investment banking, international banking and the issuance of various financing bills during the provision of corporate banking services; and established long-term and viable bank-enterprise strategic partnership featuring mutual benefits and win-win outcomes. The normal and orderly management and operation of corporate annuity funds depends on good collaboration and coordination between enterprises and annuity managers, as a close relationship between the bank and enterprises helps to lower the cost spent on mutual understanding and adaptation. ICBC aims to provide enterprises with professional, safe and convenient annuity services, and has the sincerity, confidence and passion to work with enterprises to properly operate and manage annuity schemes for the benefit of their employees.