English Chinese translation sample-distribution channels

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

V. Distribution Channels
ICBC has been consistently upgrading the layout of its business offices. By the end of 2006, there have been 16,997 ICBC institutions in China, including the Head Office, 30 first level branches, 5 direct branches, 383 second level branches, 29 first level branch business departments, 3,068 first level sub-branches, 13,412 basic-level business offices and 69 other institutions. There are over 3000 financing centers in the basic-level business offices. Abroad, there are 98 branches, subsidiary banks, agencies and business offices.

　　五、分销渠道

　　中国工商银行不断优化网点资源配置，截至2006年末，在境内拥有16,997家机构，包括总行、30个一级分行、5个直属分行、383个二级分行、29个一级分行营业部、3,068个一级支行、13,412个基层营业网点以及69个其他机构。其中基层营业网点包括3000多个理财中心。在境外拥有98家分行、子银行、代表处和网点。

ICBC provides corporate and personal clients with multiple electronic banking services via the internet, telephone, mobile phone, ATM and self-service banking center. By the end of 2006, the number of E-banking clients reached 49.84 million, an increase of 42%. The number of business transactions occupied 30.1% of the total, with an increase of 4.2%, the business volume was 45.2 trillion, with an increase of 50.6%, and business income was RMB 693 million, an increase of 64.6%. By the end of 2006, the number of personal and corporate internet banking clients respectively increased by 56.5% and 86.2%, amounting to 23.25 million and 600 thousand, and the annual business volume of e-commerce online payment was RMB 19.5 billion, an increase of 67.5%. ICBC's Internet Banking has been given the “Most Acclaimed Network Globally” Award by The Banker, commended as “Best Investment Management Corporate/Institutional Internet Bank in Asia” by Global Finance and “The Best Consumer Internet Bank in China” for the fourth time by Global Finance. The Telephone Banking introduced BTOC, agent trading and other new products. The holistic Telephone Banking system has been installed in 33 domestic branches, and the total number of self-service banking centers and ATMs reached respectively 2,704 and 19,922, an increase of 84% and 9%.

　　中国工商银行通过互联网、电话或移动电话、自动柜员机和自助银行中心,为公司和个人客户提供多元化的电子银行服务。2006年末，电子银行客户数达4,984万户，增长42%；业务笔数占全行业务总笔数的30.1%，提高了4.2个百分点；交易量45.2万亿，增长50.6%；业务收入6.93亿元，增长64.6%。截止2006年末，个人网上银行客户数和企业网上银行客户数分别增长56.5%和86.2%，达到2,325万户和60万户，电子商务在线支付年交易额195亿元，增长67.5%，网上银行荣获《银行家》杂志“全球银行网络应用创新奖”、《环球金融》杂志“亚洲最佳投资管理企业网上银行”称号，第四次蝉联该杂志评选的“中国最佳个人网上银行”称号；电话银行业务推出了电话在线支付（BTOC）、代客交易等新产品，境内分行一体化电话银行系统扩展到33家；自助银行中心和自动柜员机总数分别达到2,704家和19,922部，分别增长了84%和9%。

English Chinese translation sample-capital management

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

IV．Capital Management
In 2006, the domestic institutions of ICBC accumulated a volume of outward financing of RMB 4.3256 trillion and inward financing of RMB 454.2 billion. Influenced by such factors as macro control and new share subscription, the market interest rate fluctuated at a relatively high level. For foreign currencies, the business volume reached USD 605 billion.

　　四、资金业务
　　2006年中国工商银行境内机构累计融出人民币资金43,256亿元,累计融入人民币资金4,542亿元，受宏观调控及新股申购等多方面因素影响，市场利率在相对较高水平上起伏。外币方面，货币市场交易量达6,050亿美元。

In 2006, ICBC RMB bond trading account completed a business volume of RMB 1.44 trillion, a rapid increase of 6.7 times. The bond investment balance of RMB account was RMB 2.617183 trillion, with an increase of RMB 441.452 billion，and there were no defective assets. Short and medium term bonds remained prevailing and the structure of bond variety was stable. The bond investment balance of foreign currencies was USD 27.793 billion, with an increase of USD 14.619 billion.

　　2006年中国工商银行人民币债券交易账户共完成交易量1.44万亿元，增长6.7倍，增长迅速。人民币银行账户债券投资余额26,171.83亿元,增加4,414.52亿元，无不良资产。其中中短期债券继续保持主体地位，品种结构基本稳定。外币债券投资余额277.93亿美元，增加146.19亿美元。

RMB interest rate swap was launched in 2006, and the annual agent foreign exchange business volume was USD 195.4 billion, an increase of 36.5%, among which the exchange settlement business volume was USD 146.2 billion, took 12% of the market share and ranked No.2. The RMB registered bond business volume over the counter was RMB 2 billion, took 47% of the market share and was No. 1.

　　2006年新推出人民币利率互换业务。全年代客外汇资金交易业务额1,954亿美元，增长36.5%，其中，结售汇业务量1,462亿美元，市场占比12%，位居第二。人民币记账式柜台债券交易量20亿元，市场占比47%，排名第一。

English Chinese translation sample-personal banking

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

III. Personal Banking
ICBC owns the largest personal banking customer base in China, with its main business maintaining a leading role. According to the People's Bank's statistics, by the end of 2006, ICBC's personal loan and deposit balance ranked No. 1 among all the commercial banks in China, respectively taking a market share of 15.0% and 19.7%.

　　三、个人银行业务
　　中国工商银行拥有中国最大的个人银行客户基础，主要业务在国内保持领先地位。根据人民银行的数据，截至2006年末，个人贷款和存款余额均列中国商业银行之首，市场份额分别为15.0%和19.7%。

By the end of 2006, the balance of personal savings deposit was RMB 3.314350 trillion, with an increase of RMB 208.052 billion, or by 6.7%. With the development of personal financing service and the activity of the capital market, personal savings deposit tended to grow more slowly. ICBC implemented “The Standardized Personal Credit Marketing Project”, introduced such new products as direct personal house loan, proposed ten measures in upgrading personal credit service and developed steadily personal business loan -- all these facilitated new increase in personal loans. By the end of the year, the domestic personal loans balance reached RMB 576.109 billion, with an increase of RMB 61.067 billion, or by 11.9%.

　　年末，个人存款余额33,143.50亿元，增加2,080.52亿元，增长6.7%。由于个人理财业务发展和资本市场活跃对存款的分流，个人存款增幅趋缓。全面实施“个人信贷业务营销标准化工程”；推出直贷式个人住房贷款等新产品；推出提升个人信贷业务服务十项措施；积极稳健发展个人经营贷款，成为个人贷款业务新的增长点。截至年末，境内个人贷款余额5,761.09亿元，增加610.67亿元,增长11.9%。

Motivated by personal financing service, personal intermediary service increased rapidly in 2006 and achieved a net service charge and commission income of RMB 9.489 billion, a y-on-y increase of 58.3%. The personal financing products issued in Chinese and foreign currencies in 2006 totaled RMB 75.49 billion, and increased 2.98 times, which enabled ICBC to become the first Chinese commercial bank officially providing Chinese residents with financial agent services abroad. The personal financing products sold by ICBC in the year amounted to RMB 320.7 billion, an increase of 98.3%，covering the issuing and dealing of government bond and Open-ended Funds, and bank insurance agent service. As the biggest distributing bank, ICBC's sales of Certificate T-Bond took 31.2% of the market volume，its trial sales of Deposit (e-form) T-Bond took 42.18% of the market volume，and its sales of Open-ended Funds reached the total amount of RMB197.3 billion, an increase of 2.8 times. ICBC initiated in the domestic market the “Defined Fund Investment Plan” and the first foreign currency fund, achieved a centralized bank-insurance cooperation system, and completed an annual sales record of premium for bank insurance products of RMB 45.9 billion, an increase of 46%. Elite Club Account service had an overall upgrade, and by the end of the year, there were 2.36 million clients with the account, an increase of 25.5%. Among the customer managers there were 2,078 financial specialists and this is a leading figure in the trade. ICBC has improved the remittance services, and launched new functions such as roaming remittance and foreign currency remittance. It achieved in 2006 a personal settlement volume of RMB 8.52 trillion, an increase of 19.3%.

　　2006年在个人理财业务的带动下，个人中间业务快速增长，实现个人净手续费及佣金收入94.89亿元，比上年增长58.3%。2006年发行各类本外币个人理财产品合计754.9亿元，增长2.98倍，成为首家正式向境内居民推出代客境外理财服务的中国商业银行；全年共计代理销售个人理财类产品3,207亿元，增长98.3%，主要包括代理政府债券和开放式基金产品的发行与交易以及银行保险代理业务。代理销售凭证式国债市场占比31.2%，为最大分销行，试点代理发售储蓄（电子式）国债市场占比42.18%；代理销售开放式基金总量1,973亿元，增长2.8倍，并在国内率先推出“基金定投”业务和首只外币基金；在国内率先实现集中式银保合作模式，全年代销的银行保险产品保费总计459亿元，增长46%。理财金账户服务全面升级，截至年末，拥有理财金账户客户236万户，增长25.5%；客户经理中拥有2,078名金融理财师，居国内同业领先地位。改进汇款业务功能，推出漫游汇款、异地外币汇款等新功能，2006年实现个人结算业务量8.52万亿元，增长19.3%。

In 2006, ICBC's bank card consumption amount and cross-trade transaction volume remained first among the banks. It issued 188.63 million cards, an increase of 29.9%, with an annual consumption amount of RMB370 billion, an increase of 53.5%. Among the cards issued 10.47 million were credit cards, with an annual consumption amount of RMB 105 billion, thus ICBC was the largest credit card issuing bank in China, with its total bank card intermediary service income of RMB3.228 billion, an increase of 37.6%. It launched sequentially the 2006 World Cup Theme Card, The Euro Credit Card, the ICBC Corporate American Express Card, the Peony UnionPay Card, and other new products, ranking itself among the banks issuing the most comprehensive credit card brands.

　　2006年，银行卡消费额、跨行交易量同业占比继续保持市场第一。年发卡量18,863万张，增长29.9%；年消费额3,700亿元，增长53.5%。其中，信用卡发卡量1,047万张，年消费额1,050亿元，为国内最大的信用卡发卡行。全年实现银行卡中间业务收入32.28亿元，增长37.6%。相继推出2006世界杯主题卡、欧元信用卡、牡丹运通商务卡、牡丹银联卡等新产品，成为国内信用卡品牌最齐全的发卡行之一。

English Chinese translation sample-corporate banking

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

II. Corporate Banking
To further enhance the competitiveness of corporate banking, ICBC, according to the requirements of customer classification marketing and establishment of processing banks, adjusted the setup of the head office in 2006 for the purpose of strengthening marketing capacity prospects, accelerating the flattening of branch organizations, and building a hierarchical marketing system. To quicken the implementation of integrated marketing strategy in corporate banking, ICBC, while consolidating the leading role in corporate deposit and loan market, strived to develop new high-end corporate banking businesses such as investment banking, cash management, corporate financial management, enterprise annuities, and financial derivatives.

　　二、公司银行业务
　　2006年，为进一步提升公司银行业务的竞争力，中国工商银行根据客户分类营销与建立流程银行的要求，调整总行部门设置以加强前台营销能力，加快分行组织扁平化，构建分层营销体制。加快实施公司银行业务综合化营销战略，在巩固公司存贷款业务市场领先地位的同时，大力发展投资银行、现金管理、公司理财、企业年金、金融衍生产品等新兴高端公司银行业务。

ICBC sticks to a positive and robust strategy in loan growth. While striving to maintain its highest corporate credit status in China, ICBC keeps optimizing the industry structure, regional structure, customer structure and product structure as well. ICBC has, in response to market demand, launched a series of domestic trade financing products. By the end of 2006, domestic corporate loan balance was RMB 2.530732 trillion, taking 69.7%, in loan balance of all categories, and with a y-on-y increase of RMB 253.336 billion, among which the SME loans increased by RMB 59.7 billion, syndicated loans increased by RMB 24.999 billion. The domestic corporate deposits increases by RMB 2.838185 trillion, or by 14.3%, taking 44.7% in deposit balances.

　　实施积极稳健的公司贷款增长战略，在保持中国最大公司信贷银行地位的同时，进一步优化行业结构、区域结构、客户结构和产品结构。针对市场需求推出了国内贸易融资等系列产品。截至2006年末，境内公司类贷款余额25,307.32亿元，占各项贷款余额的69.7%，同比增加2,533.36亿元。其中小企业贷款增加597亿元，银团贷款增加249.99亿元。境内公司存款28,381.85亿元，增长14.3%；占存款余额的44.7%。

ICBC further enhanced the bank-insurance cooperation in agent insurance, asset custody, cash management, and electronic commerce, having signed overall cooperation agreements with 22 domestic and foreign insurance companies and initiated "online insurance" services. It steadily developed the bank-stock and bank-futures business and product innovation in financing, clearing, and custody, and was in cooperation with 129 securities and 162 futures companies. It promoted inter-bank cooperation, established formal agent banking relationship with 60 domestic banking institutions, and its payment clearing agent and agent liquidation business were expanding continuously. ICBC expanded its bank-government cooperation, and products such as "bank-finance link" "bank-customs link," "on-line bank-finance link" and "bank-tax link" have become prevailing brands in the market.

　　继续加强在代理保险、资产托管、现金管理、电子商务等方面的银保合作，与国内外22家保险公司签订了全面合作协议，首家推出“网上保险”服务。稳步推进银证、银期在融资、结算、代理、存管等方面的业务和产品创新，与129家证券公司、162家期货公司开展业务合作。提升银行同业合作水平，与国内60家银行机构正式建立了代理行关系，支付结算代理业务和代理清算业务规模继续扩大。拓展银政合作空间，“银财通”、“银关通”、“网上银财通”和“银税通”业务已成为市场优势品牌。

ICBC maintained its leading edge in RMB clearing and settlement and cash management. By the end of 2006, ICBC had 31,408 cash management customers--an increase of 78%--among which 11 of the 15 mainland Chinese enterprises (banks not included) listed as Global 500 by Fortune in 2006. It was awarded "2006 Best RMB Cash Management Bank of China" by Asiamoney. Its corporate RMB settlement amounted to RMB 260 trillion, an increase of 40% against the previous year.

　　继续保持在人民币清算、结算和现金管理业务上的领先优势。2006年末，拥有现金管理客户31,408家，增长78%，其中包括入围2006年《财富》五百强的15家中国大陆企业（不含银行）中的11家。荣获《亚洲货币》“2006年中国最佳人民币现金管理银行”。年末，对公司人民币结算金额为260万亿元，比上年增长40%。

ICBC provides banking customers with multi-purpose foreign currency services, including letters of credit, foreign exchange remittances, and foreign exchange collection. In 2006, ICBC launched innovations in personalized international clearing and derivative service, integrated international settlement and trade finance products, and designed 10 application portfolios. The international settlement process is under full electronic operation and management, and an International Trade Processing Center was established in the head office to further improve the efficiency of services. In 2006, ICBC conducted international settlements of USD399.6 billion, an increase of 36.5%, among which USD 290.2 billion were settled on China's territory, an increase of 29%.

　　中国工商银行为公司银行客户提供包括信用证业务、外汇汇款、外汇托收等多元化的外汇服务。2006年积极开展国际结算个性化创新与衍生服务创新，整合国际结算与贸易融资产品，设计出10项产品组合应用方案。国际结算业务处理实现全程电子化操作和管理，并在总行设立国际结算单证中心，服务效率进一步提高。2006年办理国际结算业务3,996亿美元，增长36.5%，其中境内机构办理国际结算业务2,902亿美元，增长29%。

ICBC strives for interaction between investment banks and traditional banking businesses, and steady development of infrastructural businesses such as corporate financial consultation and credit services. It focuses on exploring brand building represented by reorganization and acquisition, structured financing, syndicated loan arrangement underwriting, indirect syndicate, and corporate listing, and promotes vigorously emerging businesses such as short-term financing bonds, and asset securitization. In 2006, as the leading short-term financing bond underwriter, ICBC issued for 19 enterprises 23 financing bonds with a total amount of RMB 46.340 billion. The long-term financial consultation management system had been put into use, which had consistently increased efficiency in management. “Bao Steel Group's M&A of Bayi Iron & Steel”, with ICBC as its exclusive financial advisor, was listed among the “Top 10 Most Significant M&A Events 2006” by a domestic financial journal Contemporary Managers.

　　积极探索投资银行与传统银行业务的互动发展，稳步发展企业理财咨询和资信服务等基础类业务，重点开拓以重组并购、结构化融资、银团贷款安排承销、间接银团、企业上市顾问等为代表的品牌类业务，积极发展短期融资券、资产证券化等新兴业务。2006年，作为短期融资券主承销商，为19家企业发行了23期、总额为463.40亿元的融资券。常年财务顾问业务管理系统投入使用，业务管理效率不断提高。中国工商银行担任财务顾问的宝钢集团收购八一钢铁项目被《当代经理人》杂志评为“2006年十大战略并购事件”。

ICBC maintains its leading role in domestic custody market. By the end of 2006, the total capital under custody amounted to RMB 463.4 billion, an increase of 117.3%; custodian securities investment funds accounted to RMB 268.4 billion, among which the custodian funds shares took 32.13%; the capital of RMB 184.7 billion was under custody for insurance companies and as enterprise annuities. ICBC has four qualified foreign institutional investors (QFII) under its custody, including a new one; it has initiated the operation measures for QDII and succeeded in operating the first QDII custodian product of funds companies, banks, and insurance companies, thus it has become the largest custodian banks in China. In 2006, ICBC continued to be listed as "The Top Custodian Bank in China" by Global Custodian, and was awarded "The Top Custodian Bank in China" by The Asset of Hong Kong.

　　继续保持国内托管市场领先地位。截至2006年末，托管资产总额4,634亿元，增长117.3%；其中，托管证券投资基金资产2,684亿元，托管基金份额市场占比32.13%；托管保险公司、企业年金等委托资产1,847亿元。托管合资格境外机构投资者（QFII）4家，新增1家；率先提出合资格境内机构投资者（QDII）业务托管运作方案，成功托管运作基金公司类、银行类、保险公司类首只QDII产品，并成为国内最大的QDII托管银行。2006年，蝉联《环球托管》杂志“中国最佳托管银行”，荣获香港《财资》杂志“中国最佳托管银行”。
Precious metals business grew steadily. In 2006, ICBC initiated new businesses of gold-secured loaning and agent night-market gold trading. By the end of 2006, a liquidation amount of RMB 63.2 billion was achieved by ICBC for Shanghai Gold Exchange, taking 50.8% of the market share, which ranked No.1 among commercial banks in China.

　　贵金属业务稳步发展。2006年，新推出黄金质押贷款业务和代客黄金夜市交易业务。截至年末，代理上海黄金交易所清算量632亿元，市场份额为50.8%，在中国商业银行中排名第一。

Enterprise annuity business grew rapidly. By the end of the year, 303 formally-signed annuity customers were added, 1.21 million more personal account customers were under management, and annuity fund under custody increased by 4.3 billion.

　　企业年金业务快速增长。截至年末，正式签约年金客户新增303家，管理个人账户新增121万户，托管年金基金新增43亿元。

English Chinese translation sample-about ICBC

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

I. About ICBC
In 2006, ICBC provided a broad range of financial products and services to over 2.41 million corporate banking customers and 170 million personal banking customers through its 16,997 domestic institutions, 98 overseas branches and 1,326 agent banks around the world.

一、概况
　　2006年，中国工商银行通过16,997家境内机构，98家境外分支机构和遍布全球的1,326家代理行，向超过241万公司银行客户和1.7亿个人客户提供广泛的金融产品和服务。

The listing promoted effectively the conversion of ICBC's operation strategy and the innovation of all ICBC's businesses. ICBC's profitability, risk control capacity and capability for sustainable development have markedly increased. The group has maintained a rapid increase in after-tax profit for 3 consecutive years, which, with a y-on-y growth of 30.3%, reached RMB 49.336 billion in 2006 (According to IFRS, the after-tax profit reached RMB 49.880 billion and the y-on-y growth was 31.2%). The main reason for the growth is the RMB 16.511 billion increase of net operating revenue and a 10.2% y-on-y growth. The income tax expense decreased by 11.3%, and the bank's effective tax rate was reduced with relevant tax incentives in restructuring and listing. Due to the robust growth in after-tax profits and the large amount of equity raised, the weighted average net assets yield rate reached 15.16%, and the average return rate of total capital reached 0.71%, an increase of 0.05% against the previous year. The cost-income ratio remained 36.0% -- at a favourable level.

发行上市有力地促进了中国工商银行的经营战略转型和各项业务的创新发展，全行盈利能力、风险控制能力和可持续发展能力显著增强。2006年集团税后利润在连续三年保持高增长的情况下，同比增长30.3%，达到493.36亿元（按国际财务报告准则税后利润498.80亿元，同比增长31.2%）。主要原因是营业净收入增加165.11亿元，增长10.2%。所得税费用下降11.3%，重组及上市相关税收优惠降低了银行的实际税率。由于税后利润的强劲增长，在股本募集数额较大的情况下，加权平均净资产收益率达到15.16%，平均总资产回报率为0.71%，较上年上升0.05个百分点。成本收入比保持在36.0%的较好水平。

By the end of 2006, the total capital balance was RMB 7.509118 trillion, with an increase of 1.051879 trillion yuan, or 16.3%, against the previous year. Calculated from the perspective of structure, the net loans took 47.1% of the total capital, a 2.5% continuous decline, the net securities investment accounted for 38.1%, a 2.4% increase, and other assets accounted for 14.8%. By the end of the year 2006 and the balance of all loans reached RMB 3.631171 trillion, a steady growth of RMB 341.618 billion, an increase of 10.4%; the non-performing loans balance and ratio continued to decrease -- the non-performing loan was RMB 137.745 billion, the non-performing loan ratio 3.79%, a decrease of 0.9%; loan loss allowance was RMB 97.193 billion, and the NPL ratio was 70.56%, an increase of 16.36%. Net securities investment was RMB 2.862060 trillion, a y-on-y increase of RMB 554.726 billion, or an increase of 24.0%, which was mainly due to the growth in net investment in debt instruments. Among them, central bank bills increased by RMB 255.759 billion, or by 50.6%, and the policy-oriented bank bond investments increased by 74.762 billion yuan, or by 24.4%.

　　2006年末，总资产余额75,091.18亿元，比上年末增加10,518.79亿元，增长16.3%。从结构上看，各项贷款净额占总资产的比重47.1%，持续下降2.5个百分点，证券投资净额占比38.1%，上升2.4个百分点，其他资产占比14.8%。2006年末，各项贷款余额36,311.71亿元，比上年末增加3,416.18亿元，增长10.4%，增长平稳；不良贷款余额和比率继续保持双降态势，其中不良贷款1,377.45亿元，不良贷款率3.79%，下降0.9个百分点；贷款损失准备余额971.93亿元，拨备覆盖率为70.56%，上升16.36个百分点。证券投资净额28,620.60亿元，同比增加5,547.26亿元，增长24.0%，主要来源于债务工具投资净额的增加。其中央行票据增加2,557.59亿元，增长50.6%，政策性银行债券投资增加747.62亿元，增长24.4%。

By the end of the year, the total liabilities were RMB 7.037685 trillion, which was an increase of RMB 841.430 billion, or a growth of 13.6%. Among them, deposits increased by RMB 614.557 billion, which took 73.0% in liabilities growth and was the main component of capital source. Deposits and inter-bank borrowing from the same trade and other financial institutions increased by RMB 167.408 billion, or an increase of 71.9%, which was mainly due to the impact of year-end issuing of new shares.

　　年末，总负债余额70,376.85亿元，比上年末增加8,414.30亿元，增长13.6%。其中，存款增加6,145.57亿元，占负债新增额的73.0%，依然是资金来源的主要组成部分。同业及其他金融机构存入和拆入款项增加1,674.08亿元，增长71.9%，增幅较大主要受年底新股发行影响。