¡@¡@The close connection of China Merchants with financial
business can be traced back to as early as 1875 when the
China Merchants Group("CMG") established the
first vessel insurance company in China, namely, Renhe
Insurance Company. In 1897, China Merchants participated
in the setting up of the first Chinese bank in China,
namely, Mercantile Bank of China. Ever since its establishment
in 1872, being a pioneer in the development of the financial
service industry in China and in response to the financial
system reform and the development of the national industry
and commerce in China, the CMG once again stood out as
the forerunner by establishing the first joint-stock commercial
bank - China Merchants Bank in 1987 and the first limited
liability insurance company - Ping An Insurance Company
of China Limited in 1988, commissioning the pioneering
exploration in the establishment of bank and insurance
company in New China by the Chinese enterprises. Presently,
China Merchants has established a comprehensive range
of financial business including banking, insurance, fund
investment and asset management, and securities. The excellent
performance of those businesses has attracted social admiration.
Today, financial business has become a core sector and
main profit contributor of the CMG.
¡@¡@The twenty-first century will be an era with very
rapid growth and, with the aid of science and technology,
will bring tremendous impact on the lifestyles and production
modes of human being. It is also an era in which the
economy of China will undergo structural changes. We
have to face fierce market competition as a result of
the opening-up of the market. We must keep abreast of
developments in this era, learn from distinguished forerunners
and post ourselves at the forefront of the age. We will
continuously build up as an ever-growing enterprise
and create a working platform for talented people enabling
them to fulfill their ambitions and expectations in
the process of creating fortune for the CMG. The CMG
will in turn provide quality financial services to the
community in the course of its development.
¡@¡@Looking ahead, we have to shoulder heavy responsibilities
and our goal is far-reaching. Facing China's accession
to the WTO and the globalisation, China Merchants Finance
Holdings Company Limited will definitely keep pace with
the age and continuously aim to achieve another round
of brilliant results.
|
Chairman's Statement