1 News at a Glance
5 Media Focus

Feature Column
6 A First Class International Financial Corp A Group of Young Pioneers
------ ICBC Youth Seminar convened in Beijing / Xiang Zhihua Wang Zhenning
10 Cooperation Blueprint Let's Sail Together
------ SME Banking Services Forum opened in Hangzhou /Liu Li

News on Association
14 A Reflection on Japan "Bubble Economy" and Banking Reform
-------- Overview of Sino-Japan Academic Exchange Seminar, Spring 2007
Compiled by Song Wei Innovation Salon
19 Direct Finance: Development and Opportunities
-------- Second ICBC Innovation Salon Opened in Beijing /Wu Wei Fu Shihong

Special Delivery
24 Soul of ICBC Services System
---ICBC Parameter Management Center in the Wave of Reform /Mei Yan
27 Mine the Parameters Increase ICBC Competitiveness
--- An Interview with Mr. Yang Peng, General Manager of Parameter Management Center

Operation Management
30 Financial Services Break its Ground in ICBC Guangxi Branch /Chen Yang Chen Dahua
33 Focus on Customer Target on Efficiency
---- An Interview with Ms. Li Hui, General Manager of Personal Gold Department
ICBC Guangxi Branch

Share Experience
36 Pilot Run in Binhai, Banking Innovation on the Wheel
/Qiao Jianchu Wu Wei Fu Shihong
36 Get on the Road, Be the No.1 Bank in Binhai
---- An Interview Mr. Hua Yaogang, Party Secretary and President of ICBC Tianjin Branch
38 No Fixed Rules to Innovate, Many Ways to Develop
---ICBC Binhai Sub-branches Offer Diversified, Multi-faced Innovative Banking Serivces
42 Go all the Way, Miracles Lies Ahead
------- ICBC Guangdong Zhanjiang Branch Become the Top 30 Tier-2 Branch
/Luo Hongyu Tang Yichao

Monthly Stock Clip
45 An Analysis on Domestic and Overseas Stock Markets --- May, 2007
ICBC Corporate Strategy and IR Department
Office of the Board (Source)

Banking Terms
48 The Real Rights Law– Influence on Commercial Bank /Zhang Wei

Industry and Finance
51 Coke Mining: Shaky Industry Structure /Yintong Investment Consulting Corporation

Latest News
54 International: Yen Arbitrage Flood US Efficient Regulatory
/Zou Xin Ma Suhong Song Wei
56 China: Savings Flow to Stock, Credit Speed up /Cao Xingren Zhao Xinjie Zhao Youli

Everyone Financials
58 100% Capital-Protected, Secured Profit /Chen Lianhua
Let's Ask
59 "Trinity" Marketing / OuYang Yun
Bookstore
60 Preface: A Collection of Stiglitz Economy Essays /Lin Yifu
Bank Museum
62 Fascinating Paper Money-Scenic Spots (II) /Wang Yunting
64 Ancient Dynasty Year and Money /Wang Xipeng
Let's Talk
66 See and Go: Changes /Wu Genbo Huang Yemin
68 Life in the Grassland
--- An Interview with Mr. Zhou Rongsheng, Famous Portrait Painter, /Mu Baoguo

Dual Languages
71 Citicorp Restructuring Compiled and Translated by: Ma Suhong
Words in the Banking World
74 Sunshine in my Heart /Bai Hongming
74The Book: A Herb Named Money /Zeng Jun
74 Don't Let Customers Walk on the "Sidewalk" /Wang Guihua
75 Sand Scraping /Huang Jianming
75 Find Life Objective from Allegory /Hao Nan
75 The Art of Making People Work for You /Hou Weijun
76 Viewpoints Compiled by Jiang Ye
Suggestions to Primary Staff
78 Shape up the Core Competitivness /Huang Wenhui Xiong Shuyu
78 Basic Conditions for Primary Staff to Serve Customers /Qu Xiaodong
79 Solve the Long Queue at the Service Counter /Ma Lvchen
80 Influences and Counter-Measures of Post Savings to ICBC Personal Banking Services
/Qi Hongmin

MAIN CONTENTS

6 Youth Will Be Pioneer And Main Force To Build A World-class Financial Modern Enterprise
In memory of the 88th anniversary of May 4th Movement and the 85th anniversary of the communist youth league, an ICBC youth forum was held on April 26, 2007 in Beijing. Mr. Jiang Jianqing, the board chairman of ICBC, Mr. Yang Kaisheng, president of ICBC, Mr. Wang Weiqiang, chairman of supervisory board of ICBC, and Mr. Liu Lixian, senior executive vice president attended the forum. Mr. Jiang commented at the forum demanding for further strengthening and improvement for the youth work of ICBC. Four youth representatives respectively from branches of Shanghai, Henan, Hubei, Shanxi, and other three from departments including IT, institutional banking and operation management dept. put forward their suggestions on development of ICBC and growth of the youth.

23 Development and Opportunity of Direct Financing
June 1, 2007, “innovation salon of ICBC” was held in Beijing. As a once-two-month forum, innovation salon targets on updates and hot topics in China economy and banking sector. Direct financing which is the theme of 2nd innovation salon attracts increasing attention in today's banking practice, for it exerts much influence on banks' operation pattern and put a challenge to all the commercial banks in comparison with indirect financing way which is traditionally practiced by commercial banks.

27 Inspiration from Bubble Economy and Financial Reform in Japan
May 9, 2007, an academic meeting between Institute for Urban Finance, ICBC and Kumamoto Gakuen University of Japan was held in Beijing. Mr. Li Xiaopeng, vice president of ICBC, along with Madam Zhan Xiangyang, director general of Institute for Urban Finance, gave a warmly welcome to the academic delegation led by Mr. Tadashi Sakamoto, President of Kumamoto Gakuen University of Japan. The academic cooperation and communication between the two parties has got cheering achievement on ten-year research focusing on nonperformance loan both in China and Japan and comprehensive operation and corporate governance of banking sector since the cooperation started in 1997.

35 Building the Soul of ICBC Business System
In recent years, the parameter management center of ICBC has carried out a series of reforms including intensive and regulative management of parameter in all branches of ICBC and started in the second half of 2006 to build the operation management system to achieve unifying setting of accounts. An all bank scope parameter management platform which greatly improved management has been founded and the process of parameter maintenance has got a scientific reengineering which enhances the efficiency of parameter system.

38 Money Management Helps Guangxi Branch Finding A New Way For Development
Guangxi Branch of ICBC has got remarkable achievements in personal banking business and found a new way for development. The branch goes all out to build the NO.1 retail bank in Guangxi by increasing resources and pushing reform measures such as organization structure building, market channel building, differential service, brand strategy and personal banking manager training.