Annual Report 2012

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Notes to the financial statements(Expressed in millions of RMB, unless otherwise stated)62 Related party relationships and transactions(1) Transactions with parent companies and their affiliatesThe parent companies of the Group are CIC and Huijin.Approved by the State Council, CIC was established on 29 September 2007 with a registered capital of RMB1,550 billion. As awholly owned subsidiary of CIC, Huijin exercises its rights and obligations as an investor on behalf of PRC government.Huijin was incorporated on 16 December 2003 as a wholly state-owned investment company with the approval of the StateCouncil. It was registered in Beijing with a registered capital of RMB828,209 million. Its principal activities are equity investmentsas authorised by the State Council, without engaging in other commercial operations. As at 31 December 2012, Huijin directly held57.21% shares of the Bank.The related companies under parent companies include the subsidiaries under parent companies and other associates and jointlycontrolled entities.The Group’s transactions with parent companies and their affiliates mainly include deposit taking, entrusted asset management,operating leases, lending, purchase and sale of debt securities, money market transactions and inter-bank clearing. Thesetransactions are priced based on market prices and conducted under general commercial terms.The Group has issued subordinated debts with a nominal value of RMB160 billion (2011: RMB120 billion). These are bearer bondsand tradable in secondary market. Accordingly, the Group has no information in respect of the amount of the bonds held by theaffiliates of parent companies as at the end of the reporting period.(a)Transactions with parent companiesIn the ordinary course of the business, material transactions that the Group and the Bank entered into with parent companiesare as follows:Amounts2012 2011AmountRatioto similartransactionsAmountRatioto similartransactionsInterest income 578 0.10% 578 0.12%Interest expense 461 0.18% 113 0.06%Balances outstanding as at the end of the reporting period2012 2011BalanceRatioto similartransactionsBalanceRatioto similartransactionsInterest receivable 186 0.27% 186 0.33%Held-to-maturity investments 16,680 0.87% 16,680 0.96%Deposits from customers 20,018 0.18% 3,559 0.04%Interest payable 306 0.25% 22 0.03%Credit commitments 288 0.02% 288 0.01%China Construction Bank Corporation annual report 2012163
Notes to the financial statements(Expressed in millions of RMB, unless otherwise stated)62 Related party relationships and transactions (continued)(1) Transactions with parent companies and their affiliates (continued)(b) Transactions with the affiliates of parent companiesIn the ordinary course of the business, material transactions that the Group and the Bank entered into with the affiliates ofparent companies are as follows:Amounts2012 2011NoteAmountRatioto similartransactionsAmountRatioto similartransactionsInterest income 32,571 5.40% 27,761 5.76%Interest expense 2,552 1.02% 2,372 1.34%Fee and commission income 426 0.44% 495 0.55%Fee and commission expense – – 56 2.24%Operating expenses (i) 1,387 0.81% 1,025 0.71%Balances outstanding as at the end of the reporting period2012 2011NoteBalanceRatioto similartransactionsBalanceRatioto similartransactionsDeposits with banks and non-bank financial institutions 48,134 8.22% 41,033 14.83%Placements with banks and non-bank financial institutions 19,114 14.74% 21,941 20.12%Financial assets at fair value through profit or loss 2,783 10.09% 2,106 9.12%Positive fair value of derivatives 1,237 9.76% 529 3.74%Financial assets held under resale agreements 15,175 4.79% 10,007 5.00%Interest receivable 13,199 19.34% 11,358 20.00%Loans and advances to customers 40,233 0.55% 33,244 0.53%Available for sale financial assets 176,896 25.23% 134,765 19.96%Held-to-maturity investments 487,608 25.42% 443,695 25.45%Debt securities classified as receivables 69,549 31.65% 64,549 21.51%Other assets (ii) 12 0.05% 32 0.18%Deposits from banks and non-bank financial institutions (iii) 72,956 7.46% 67,006 6.93%Placements from banks and non-bank financial institutions 41,447 34.47% 33,744 42.86%Negative fair value of derivatives 559 4.85% 514 3.86%Financial assets sold under repurchase agreements 1,181 50.04% – –Deposits from customers 21,856 0.19% 40,238 0.40%Interest payable 153 0.12% 163 0.20%Other liabilities – – 234 0.66%Credit commitments 8,172 0.49% 7,822 0.39%(i)(ii)(iii)Operating expenses mainly represent rental expenses paid by the Group for leased assets, including properties and motor vehicles, owned by parent companies and its affiliates, andfees for related services provided by parent companies and its affiliates.Other assets mainly represent other receivables from the affiliates of parent companies.Deposits from the affiliates of parent companies are unsecured and are repayable under general commercial terms.164 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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7 CORPORATE GOVERNANCE REPORTAudit
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7 CORPORATE GOVERNANCE REPORTNomina
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7 CORPORATE GOVERNANCE REPORTIn 201
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7 CORPORATE GOVERNANCE REPORTEffect
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8 PROFILES OF DIRECTORS, SUPERVISOR
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9 REPORT OF THE BOARD OF DIRECTORSP
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9 REPORT OF THE BOARD OF DIRECTORSD
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10 REPORT OF THE BOARD OF SUPERVISO
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11 MAJOR ISSUESMaterial litigations
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11 MAJOR ISSUESInterests in non-lis
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Consolidated statement of comprehen
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Statement of financial positionAs a
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Statement of changes in equityFor t
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Consolidated statement of cash flow
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Notes to the financial statements(E
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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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