In the “2016 Corporate Governance Excellence Award” organized by the Chamber of Hong Kong Listed Companies, ICBC won the seventh Corporate Governance Excellence Award under Main Board Companies - Hang Seng Composite Index Constituent Companies for its outstanding performance in corporate governance. ICBC is also the only commercial bank winner of the award for the year.

The selection committee of Corporate Governance Excellence Award states that ICBC continues to demonstrate the outstanding corporate governance culture well matching its position as the world’s leading bank in terms of tier 1 capital, profitability, earnings and other aspects. ICBC has been shortlisted as the global systemically important banks for many consecutive years with continual adherence to the highest industry standards. ICBC has clearly defined risk parameters and monitored in a timely manner, using large data analysis tools for continuous assessment and early detection, which keeps the NPL ratio at a low level. Its corporate governance is led by an efficient, well-balanced and well-qualified Board of Directors. All board committees except one are presided by independent non-executive directors, who also form a majority of board committees. They are dedicated and actively engaged in the formulation of bank strategies and new business focus. ICBC’s monitoring of connected transactions and adoption of GRI 4.0 and United Nation Global Impact as environmental, social and governance standards also won the praise of the committee.

The Hong Kong Corporate Governance Excellence Awards is jointly hosted by the Chamber of Hong Kong Listed Companies and the Corporate Governance and Financial Policy Research Center of Hong Kong Baptist University once a year since 2007. It has significant impact on Hong Kong business and listed companies and is designed to commend the listed companies that have adopted high standards on corporate governance and made excellent achievements. The award is granted to companies that have a comprehensive governance structure while being able to develop targeted measures to address their unique risks and challenges.