Recently, Mr. Jiang Jianqing, President of ICBC, said: Currently, as the completion of financial restructuring, ICBC Shareholding Reform is now in the critical stage of establishing Shareholding Company. In the second half year, ICBC will take several steps in tandem to concentrate in pushing corporate governance reform. Works will be carried out in completing the 17 projects to fulfill all tasks in creating a new Bank, building a new system, realizing new goal and launching new developments.

Mr. Jiang Jianqing introduced that concerning corporate governance, ICBC has instituted 17 projects including governance structure design, ICBC development strategy design, organization structure and business flow restructuring plan, personnel incentive reform plan. Currently, some of these projects have been completed or basically completed after hard efforts. On this foundation, ICBC continued to push the completion and implementation of these projects. ICBC strive in the design of corporate governance structure, establish scientific capital management scheme, spend efforts in information disclosure work, start the conversion of old and new financial accounting system, launch organization reform at the right time and further flow restructuring plan, establish human resources management scheme of a modern financial corporation and breakthrough in incentive-restraint mechanism

Mr. Jiang Jianqing said, "ICBC Co. Ltd." will be registered at the end of September or in October as scheduled. Preparation and approval submission of legal documents as Shareholding Company Regulation and Initiator Agreement are on the way. Council Rules and High-Management Working Rules of "Three Meetings" and all specialized committees are instituted according to Law specification. ICBC actively work with concerned State Departments to build a modern corporate governance structure. ICBC concentrate to build a scientific capital management scheme from three aspects: Head Office will scientifically measure the economic capital amount that covers all credit risks, market risks and operating risks according to the assets and liabilities after financial restructuring at the end of June. Economic capital is allocated to all branches. Efforts will be spent in gradually setting up index scheme centered on risk-adjusted capital return rate. Evaluation will be conducted on Branches' operating performances.

At the same time, ICBC launch organization reform and further flow restructuring plan at the right time an stablish functional organizations based on the improved business flow. Widely launch the horizontal management, build an internal organization system from the top to the end with scientifically division of labor, effectively balance and highly-coordinated complete the matrix management model with a combination of bars and blocks. Attempts will be taken in exploring vertical management and Service Unit System. Timely improve the system of authorized operation, management by level and responsibilities-in-steps. Improve the operation management efficiency of the whole bank. Establish human resources management scheme and incentive-restraint mechanism of a modern financial corporation.