Annual Report 2012

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Notes to the financial statements(Expressed in millions of RMB, unless otherwise stated)27 Held-to-maturity investmentsAnalysed by types of issuersGroupBank2012 2011 2012 2011Government 796,075 765,747 795,422 764,969Central banks 235,053 270,122 235,053 270,122Policy banks 273,270 225,576 273,270 225,576Banks and non-bank financial institutions 526,376 475,703 525,879 475,504Other enterprises 91,626 10,415 90,265 10,165Gross balances 1,922,400 1,747,563 1,919,889 1,746,336Allowances for impairment losses (Note 37) (4,078) (3,994) (4,078) (3,994)Net balances 1,918,322 1,743,569 1,915,811 1,742,342Listed outside Hong Kong 12,138 4,126 11,667 4,115Unlisted 1,906,184 1,739,443 1,904,144 1,738,227Total 1,918,322 1,743,569 1,915,811 1,742,342Market value of listed securities 12,842 4,627 12,371 4,61628 Debt securities classified as receivablesAll debt securities classified as receivables are unlisted and issued by the following entities in Mainland China:GroupBankNote 2012 2011 2012 2011Government– Special government bond (1) 49,200 49,200 49,200 49,200– Others 755 742 530 530The PBOC (2) – 17,944 – 17,944Banks and non-bank financial institutions 79,707 82,336 77,960 82,286China Cinda Assets Management Co., Ltd. (“Cinda”) (3) 57,622 131,761 57,622 131,761Other enterprises 33,450 18,659 33,450 18,659Gross balances 220,734 300,642 218,762 300,380Allowance for impairment losses (Note 37) (1,021) (615) (1,021) (615)Net balances 219,713 300,027 217,741 299,765(1) This represents a non-negotiable bond with a nominal value of RMB49,200 million issued by the Ministry of Finance (“MOF”) in 1998 to strengthen the capital base of CCB. The bond matures in2028 and bears a fixed interest rate of 2.25% per annum. The PBOC approved the Bank’s use of the special government bond as eligible assets equivalent to the surplus deposit reserve at PBOC forclearing purpose.(2) Debt securities issued by the PBOC mainly refer to PBOC bills issued specifically to the Bank. These bills matured and were fully repaid in 2012.(3) China Cinda Assets Management Co., Ltd. (formerly known as China Cinda Asset Management Corporation) (“Cinda”) issued a bond (“Cinda Bond”) with a nominal value of RMB247 billionspecifically to CCB in 1999 with a fixed coupon rate of 2.25%. Cinda Bond was extended for 10 years upon its expiry and the interest rate remained unchanged from 2009. Cinda has already repaidRMB189.4 billion of the principal amount of the bond as at 31 December 2012.China Construction Bank Corporation annual report 2012133
Notes to the financial statements(Expressed in millions of RMB, unless otherwise stated)29 Investments in subsidiaries(1) Investment cost2012 2011Sing Jian Development Company Limited (“SJDCL”) 383 383Sino-German Bausparkasse Corporation Limited (“Sino-German”) 1,502 1,502CCB Principal Asset Management Corporation Limited (“CCB Principal”) 130 130CCB International Group Holdings Limited (“CCBIG”) – –CCB Financial Leasing Corporation Limited (“CCBFLCL”) 4,663 3,380China Construction Bank (London) Limited (“CCB London”) 1,361 1,361Jianxin Trust Corporation Limited (“Jianxin Trust”) 3,409 3,409CCB Life Insurance Company Limited (“CCB Life”) 3,902 1,010Rural Banks 1,326 775Total 16,676 11,950The total investment amount of rural banks consists of investment costs of 26 rural banks in total, which are established andcontrolled by the Bank in substance (2011:16 rural banks).(2) Major subsidiaries of the Group are unlisted enterprises; details of the investments in subsidiaries are asfollows:Name of companyPlace ofincorporationParticulars ofthe issued andpaid up capitalPrincipal activities% ofownershipdirectlyheld bythe Bank% ofownershipindirectlyheld bythe Bank% ofvotingrightsheld bythe BankSJDCL Hong Kong, the PRC HK$300 million Investment 100% – 100%Sino-German Tianjin, the PRC RMB2,000 million Loan and deposittaking business75.1% – 75.1%CCB Principal Beijing, the PRC RMB200 million Fund managementservices65% – 65%CCBIG Hong Kong, the PRC HK$1 Investment 100% – 100%CCBFLCL Beijing, the PRC RMB4,500 million Financial leasing 100% – 100%CCB LondonLondon,United KingdomUS$200 million Commercial banking 100% – 100%Jianxin Trust Anhui, the PRC RMB1,527 million Trust business 67% – 67%CCB Life Shanghai, the PRC RMB4,496 million Insurance 51% – 51%Lanhye Investment Holdings Limited British Virgin Islands US$1 Investment – 100% 100%CCB International (Holdings) Limited(“CCBI”)Hong Kong, the PRC US$601 million Investment – 100% 100%China Construction Bank (Asia)Corporation Limited (“CCB Asia”)Hong Kong, the PRC HK$6,511 million Commercial banking – 100% 100%Note:In November 2012, the Bank acquired the remaining non-controlling interests of 24.9% of CCBFLCL’s total shareholding. Currently, CCBFLCL is in the process of changing its businessregistration.134 China Construction Bank Corporation annual report 2012
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Annual Report 2012China Constructio
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DEFINITIONSIn this annual report, u
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INTRODUCTIONHeadquartered in Beijin
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2 CORPORATE INFORMATIONLegal name a
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2 CORPORATE INFORMATIONForbes Ranke
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3 CHAIRMAN’S STATEMENTDear shareh
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4 PRESIDENT’S REPORTDear sharehol
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5 MANAGEMENT DISCUSSION AND ANALYSI
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6 CHANGES IN SHARE CAPITAL AND PART
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6 CHANGES IN SHARE CAPITAL AND PART
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7 CORPORATE GOVERNANCE REPORT7.2 BO
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7 CORPORATE GOVERNANCE REPORTBoard
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7 CORPORATE GOVERNANCE REPORTImpact
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8 PROFILES OF DIRECTORS, SUPERVISOR
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14 UNAUDITED SUPPLEMENTARY FINANCIA
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15 ORGANISATIONAL STRUCTUREPublic R
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16 BRANCHES AND SUBSIDIARIESTier-on
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16 BRANCHES AND SUBSIDIARIESBranche
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16 BRANCHES AND SUBSIDIARIESChongqi
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16 BRANCHES AND SUBSIDIARIESZhejian
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Annual Report 2012

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