Environmental, Social, Corporate Governance Report
Support for local communities
CITIC Limited believes that contributing to the prosperity of the communities in which it operates will also benefit its businesses. Consequently, our subsidiaries support the development of these communities through education programmes and aid for the underprivileged. Programmes are tailored to address the needs of each community and employees are encouraged to offer their time and skills via our subsidiaries’ volunteer platforms.
At CITIC Trust, the Aerospace Science Charitable Trust (the Company’s first charitable trust) made an initial donation of RMB2.2 million to support the 5th CITIC Aerospace Talent Award which, under the Soong Ching Ling Foundation, recognises 10 outstanding aerospace scientists. CITIC Trust will continue to provide strong support to the development of charitable trusts.
CITIC Pacific has committed HK$1 million to Lingnan University in Hong Kong for two new schemes, the CITIC Pacific Faculty of Business Scholarships and CITIC Pacific Overseas Exchange Scholarships. The Faculty of Business Scholarships were awarded to Faculty of Business students with outstanding academic achievements, while the Overseas Exchange Scholarships support less privileged students in overseas exchange programmes. Over the next five years, these annual scholarships are expected to provide financial assistance to 10 academically-outstanding students.
Award ceremony of the 5th CITIC Aerospace Development Talent Award under the Song Qingling/Soong Ching Ling Foundation.
Aid to the underprivileged
Building “nurseries closest to the sun”
Following local government approval, CITIC Securities has been supporting nurseries in Xainza since 2013 through the construction or upgrade of facilities to provide more pre-school places for local children. In the past four years, CITIC Securities and its subsidiary China Asset Management have invested more than RMB12 million in local pre-school services through the construction of four village-level nurseries: Baza Rural Area No. 7 Village Meiduo Nursery (opened in September 2014), Taerma Rural Area No. 4 Village Zhunbu Nursery (opened in September 2015), Xiong Mei Town No. 8 Village Jiaxiong Nursery and Xainza County No. 6 Village Qubu Nursery (both scheduled to open in April 2017).
The construction of four nurseries in Xainza, which is 4,700 metres above sea level, was understandably difficult. Arguably the highest altitude nurseries in China, they are known as “the nurseries closest to the sun”. Local people praised CITIC Securities’ efforts by comparing the nurseries to the precious snow lotus of the highlands.
Contributing to community development
The Confucius Institute of The Agostinho Neto University:A new platform for Chinese-Angolese cultural exchange
The Confucius Institute of The Agostinho Neto University in Luanda, Angola, was founded by CITIC Construction, The Agostinho Neto University and Harbin Normal University, and is the first to be sponsored by a Chinese enterprise. CITIC Construction has donated almost US$1.5 million for the construction of the academic block and the faculty and staff quarters. Covering more than 600 square metres, the Institute includes a local language research centre, library and multi-functional hall that provide a versatile venue for teaching, seminars and activities. The foundation laying ceremony for The Confucius Institute of The Agostinho Neto University was held in Luanda, the capital of Angola, in February 2015. Then, in September 2016 the completion ceremony was held to mark the inaugural term. Adam do Nascimento, Angola’s Minister of Higher Education, commented: “The Confucius Institute of The Agostinho Neto University is an important platform for Chinese-Angolan cultural exchange and its commencement opens the door to the learning of Chinese culture for Angolan students.”
Ceremony to mark the completion and inaugural term of The Confucius Institute of The Agostinho Neto University
Feature Story: CITIC Young Volunteers: Harnessing the Energy of Youth
CITIC Limited and its subsidiaries have launched multiple voluntary programmes over the years to encourage staff participation in community development and neighbourhood care. Formed by the Company in 2014, the CITIC Corporation Young Volunteers Association have developed voluntary service programmes, supported by our subsidiaries’ volunteer groups, to promote the spirit of devotion, friendship, mutual help and progress. CITIC voluntary service programmes include care for the underprivileged, community service and environmental initiatives to combat pollution.
Our range of branded voluntary service programmes delivered excellent performance in 2016.
Summer internships for Hong Kong students in Mainland China
For two years running, CITIC Corporation has organised summer internships in Mainland China for Hong Kong university students. These have helped to enhance exchanges between young people in the Mainland and Hong Kong, while allowing Hong Kong university students to better understand economic and social developments on the Mainland. The programme has since been designated by the All-China Youth Federation as an “internship base for Hong Kong university students”.
In 2016, CITIC Corporation Young Volunteers’ Association placed 38 university students from Hong Kong with CITIC Bank, CITIC Securities, China Securities, CITIC Trust and CITIC Prudential, allowing them to follow individual learning programmes tailored to their respective academic backgrounds and career aspirations. In addition, a national forum for young financial professionals and a sharing session for university interns from Hong Kong was also organised. Mr Chang Zhenming, Chairman of the Company, attended the event and delivered the opening speech, while government officials and senior business leaders including Mr John Tsang Chun-wah, Financial Secretary of the Hong Kong SAR Government, Mr Guo Ligen, Vice Chairman of the China Banking Regulatory Commission and Mr Ju Weimin, Deputy General Manager of China Investment Corporation delivered keynote speeches. Eight young senior management members of financial institutions from the Mainland and Hong Kong were invited to join in a dialogue, Meet-ups, sharing sessions and ceremonies were also held for university interns, including a Beijing Guoan football match. These initiatives were all enthusiastically received by the Hong Kong students.
Eight young senior management members of financial institutions in the Mainland and Hong Kong take part in a dialogue session
Love, Trust, Be Together – Let charity begin with us
Love, Trust, Be Together is a community welfare programme launched by CITIC Bank’s Credit Card Centre. Participants are given the option to redeem their credit card points for charity programmes such Dreams Come True, Volunteer Teachers Trips and Summer Camps, in which funds or redeemed items are donated to groups in need.
In 2016, under the Love, Trust, Be Together programme, 61 “dream centres” were built in 20 regions around the country, while 783 staff and cardholder participants enrolled in supportive education trips, covering a combined distance of more than 20,000 km. A large painting entitled Our Dream, a collective creation by students as part of their Summer Camp activity, raised RMB530,000 at an auction to fund the construction of dream centres at five schools, ultimately benefitting some 40,000 students. More than 70,000 CITIC Bank credit card holders took part in the Dreams Come True initiative and donated more than 6 billion points accrued from their credit card spending. These were then converted into RMB600,000 worth of books to be used by 50,000 students. As a result, the Love, Trust, Be Together programme participation in charitable endeavours has become much more accessible.
Cultural aid to Africa
CITIC Construction’s Joint Fleet Young Volunteers Association of Africa is the first overseas service team for young volunteers in China’s financial sector. They have launched several cultural aid programmes for Africa, including Charity training for BN vocational school, Confucius Institute-sponsored supportive education, Urban maintenance services, Table tennis cultural promotion, Charitable aid to community primary schools and Taking talent to China for expertise training. All the initiatives aim to promote mutual cultural understanding and represent a new opportunity for young Chinese volunteers to serve abroad.
In 2016, the Joint Fleet Young Volunteers Association of Africa organised numerous charitable campaigns, including a community welfare open day at the BN Vocational School, a Chinese education programme at the Confucius Institute and a donation initiative – Love for K.K. – benefitting orphanages.
By the end of 2016, 10 voluntary service teams had been formed under the Joint Fleet Young Volunteers Association of Africa; sponsorships were provided to six underprivileged Angolan teenagers; one coach provided table tennis training in China; and 17 agricultural researchers, 30 mining technicians and 19 city planning technical personnel were supported in their further studies at universities and research institutes in China. These efforts have all been widely applauded by the community.
Our unique characteristics
In addition to their ongoing voluntary services and voluntary work programmes, the CITIC Corporation Young Volunteers’ Association and its branch associations launched a wide variety of new volunteer programmes in 2016 that made use of their business expertise and local insights.
The East China Young Volunteers’ Cadets was formed by Headquarters in association with subsidiaries in East China to provide voluntary services, including directing traffic, street cleaning, consultation, translation and more for the G20 Summit held in Hangzhou.
CITIC Trust made a presentation on wealth management planning for students at the Dongtieying No. 2 Primary School in Beijing.
The Care for children with special needs; warming up the world of the hearing-impaired charity campaign, launched by the Jiangsu Lidian Energy Group