Wang Huaqing, Commissioner of Discipline Inspection of CBRC, accompanied by Xiao Pu, Vice Director-General of the General Office of CBRC, paid a R&D visit to China Banking Association on Oct 31, 2007.

After listing to a report on the Association¡¯s work made by Executive Vice President Liu Zhangjun, Wang Huaqing pointed out that, CBA had laid a solid foundation by making impressive progress over the past two years and should take further solid steps. And so far, the Association shall focus on two aspects:

First of all, it shall carry out a research on corporate social responsibilities of banks. It shall study what social responsibilities the banks shall shoulder and in what way they shall shoulder the responsibilities. Wang also pointed out that the Association shall make regulations to ensure orderly competition among its member banks and to restrict over competition within the industry.

Secondly, the Association shall continue functioning as the mouthpiece of the industry. CBA is a very important bridge; being able both to conveying the intentions of the regulator to its member banks and to feed back the petitions of the member banks to the regulator. Meanwhile, the Association shall further its communications with its international counterparts and assist its members in learning from overseas experience.

Besides, Wang encouraged the Association to reinforce the implementation of the industry covenants and standards and to increase its authority and public confidence.