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 (continued)(5) Key management personnel (continued)2011Basic annualsalariesAnnualperformancebonus Allowance WelfareTotal(before tax)(note(iii))Including:deferralpaymentThe actualpayment in 2011(before tax)RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000Executive vice presidentZhu Hongbo – – – – – – –Hu Zheyi 395 1,043 – 287 1,725 521 1,204Pang Xiusheng 395 1,043 – 283 1,721 521 1,200Zhao Huan 395 1,043 – 278 1,716 521 1,195Member of senior managementZhang Gengsheng 384 1,012 – 271 1,667 506 1,161Chief Financial OfficerZeng Jianhua 272 718 – 185 1,175 359 816Chief Risk OfficerHuang Zhiling 302 797 – 205 1,304 399 905Chief Audit OfficerYu Jingbo 272 717 – 185 1,174 359 815Secretary to the board of directorsChen Caihong 363 956 – 249 1,568 478 1,090Controller of wholesale bankingXu Huibin 272 718 – 185 1,175 359 816Controller of retail bankingTian Huiyu 272 718 – 177 1,167 359 808Controller of investment and wealthmanagement bankingWang Guiya 272 716 – 185 1,173 358 815Former controller of wholesale bankingGu Jingpu 125 – – 61 186 – 186Former controller of retail bankingDu Yajun – – – – – – –Former controller of investment andwealth management bankingMao Yumin 975 – – 8 983 – 9834,694 9,481 – 2,559 16,734 4,740 11,994Salaries andallowanceVariablecompensation2011Contributionsto definedcontributionretirementschemesOther benefitsin kind(note(i))TotalRMB’000 RMB’000 RMB’000 RMB’000 RMB’000Company secretaryChan Mei Sheung 2,297 1,823 184 13 4,317Qualified accountantYuen Yiu Leung 2,085 564 152 22 2,8234,382 2,387 336 35 7,140China Construction Bank Corporation annual report 2012167
Notes to the financial statements(Expressed in millions of RMB, unless otherwise stated)62 Related party relationships and transactions (continued)(5) Key management personnel (continued)Notes:(i)(ii)(iii)Other benefits in kind included the Bank’s contributions to medical fund, housing fund and other social insurances, which are payable to labour and security authorities based on the lower ofcertain percentage of the salaries and allowance or the prescribed upper limits as required by the relevant regulations issued by the government authorities. Other benefits also included theBank’s contribution to its own corporate annuity plan (which was set up in accordance with the relevant policies issued by the government authorities) and supplementary medical insurance.The total compensation package for these key management personnel for the year ended 31 December 2012 has not yet been finalised in accordance with regulations of the PRC relevantauthorities. The amount of the compensation to be adjusted for is not expected to have significant impact on the Group’s and the Bank’s financial statements for the year ended 31 December2012. The final compensation will be disclosed in a separate announcement when determined.The total compensation package for certain key management personnel for the year ended 31 December 2011 had not been finalised in accordance with regulations of the PRC relevantauthorities till the date that the 2011 financial statements were announced. The aforesaid total compensation package for the key management personnel for the year ended 31 December2011 was the final amount and the Bank made the relevant supplementary announcement on 8 June 2012.(6) Loans and advances to directors, supervisors and senior executivesThe Group had no material balance of loans and advances to directors, supervisors and senior executives as at the end of reportingperiod. Those loans and advances to directors, supervisors and senior executives were conducted in the normal and ordinary courseof the business and under normal commercial terms or on the same terms and conditions with those which are available to otheremployees, based on terms and conditions granted to third parties adjusted for risk reduction.(7) Defined contribution retirement schemesThe Group participates in various defined contribution retirement schemes organised by municipal and provincial governments for itsemployees in Mainland China. For its overseas employees, the Group participates in various defined contribution retirement schemesat funding rates determined in accordance with the local practices and regulations. The details of the Group’s defined contributionretirement schemes are described in Note 4 (12)(a).63 Risk ManagementThe Group has exposure to the following risks from its use of financial instruments:– credit risk– market risk– liquidity risk– operational riskThis note presents information about the Group’s exposure to each of the above risks, the Group’s objectives, policies and processes formeasuring and managing risk, and the Group’s capital management.Risk management frameworkThe Board of Directors have overall responsibility for the establishment and oversight of the Group’s risk management framework. TheBoard has established Risk Management and Internal Control Committee, whose responsibilities include risk management and internalcontrol assessment, convening of meetings and coordination. The committee assesses risk management and internal control challengesfaced by the Group and analyses their effectiveness. It evaluates the rectification activities carried out by the Group in terms of key riskmanagement issues and significant internal deficiencies. It also provides recommendations on risk management and internal controlpolicies.To identify, evaluate, monitor and manage risk, the Group has designed a comprehensive governance framework, internal control policiesand procedures. The Chief Risk Officer, who reports directly to the President, is responsible for the Group’s overall risk management.Risk management policies and systems are reviewed regularly to reflect changes in market conditions, products and services offered.The Group, through its training and management standards and procedures management, aims to develop a disciplined and constructivecontrol environment, in which all employees understand their roles and obligations.The Group Audit Committee is responsible for monitoring and evaluating internal controls, and monitoring the compliance of core businesssectors and their management procedures. Internal Control Department assists the Audit Committee to execute the above mentionedresponsibilities. It is responsible for establishing, managing, monitoring and evaluating the Group’s internal control and compliance systemand reporting to the Audit Committee.168 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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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 SUBSIDIARIESChongqi
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16 BRANCHES AND SUBSIDIARIESZhejian
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Annual Report 2012

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