On May 12, 2008, a deadly magnitude 8 earthquake hit Wenchuan County of Sichuan Province, causing an incalculable loss of life and property. However, despite the hardship and risk, Bank of China's staff went all out to cope with the disaster through prompt and methodical relief efforts. Bank of China Sichuan Branch was awarded the honorary title of the Quake Relief Hero Collective of China, becoming the only bank financial institution nationwide to win such an honor.
Swift Response - Relief Efforts from All Around the Bank
Comprehensive Mobilization
Shortly after the 5.12 earthquake, Bank of China activated its emergency plan and set up a leading group for earthquake relief work. Leading the group, Board Chairman Xiao Gang and President Li Lihui of the bank rushed to the affected areas and directed the relief work on site despite the aftershock risk. With the earthquake relief as a top priority, Bank of China Head Office held a special working conference emergently to make relief arrangements and mobilize staffs at all levels. After the earthquake, the management of Sichuan Branch at middle level and above stuck to duties and rescued six customers and 15 staffs; the branches situated in quake-hit areas took various measures to ensure the safety of cash, important blank vouchers, offices and business premise; meanwhile, the branches in Shaanxi, Chongqing, Shandong and other areas urgently purchased relief supplies and then delivered them to the disaster area.
● Chairman Xiao Gang and Vice President Li Zaohang headed for the quake-hit areas to visit and console the affected staffs and their families on May 13, 2008.
● President Li Lihui and Secretary of the Discipline Inspection Commission Zhang Lin arrived in the quake-hit area promptly to guide the earthquake relief work on site.
Protection of Customer Interests
Facing such a sudden disaster, Bank of China's staffs took the safety of customers' lives and property as their first concern. Zhang Yu, Customer Manager of Dujiangyan Sub-Branch, held up his body to protect others against the falling beams and sacrificed his life in the earthquake; Wang Bing, the cashier of Wuhou Sub-Branch, during the three minutes of violent quake, calmly packed the cash box and account books, and left the business hall after checking out and locking up the box; Fu Baizhang, Director of General Management Department of Mianzhu Sub-Branch, spent more than 80 hours in continuous search and rescue work in the earthquake field regardless of his body pain and danger aside. With life, loyalty and responsibility, Bank of China's staffs have composed a magnificent song of disaster relief efforts.
Resumption of Normal Operation
Bank of China went all out to resume normal operation in the shortest time. The next day to the earthquake, 71% of its outlets in Sichuan Province resumed operation, and by May 16, 2008 more than 90% came back to normal operation. In the hardest-hit areas such as Dujiangyan and Mianzhu, the personal business was launched in the form of "tent bank" and "car bank" to meet the emergent financial needs of victims with simplified procedures. With the special "green credit channel, loan applicants from disaster area could enjoy expedited examination procedure and prioritized approval privilege; intensified emergency credit support went to help those disaster-relief industries and customers like the electricity grid, highway transportation, construction, telecommunications, water and gas supply, hospitals, schools, food and medical institutions. For the affected customers with repayment difficulties, Bank of China supported them to recover production through the facilities like corresponding credit extension, getting new loan to payoff old one, and loan swap.
● Bank of China provided emergency financial services to the affected customers in disaster areas in the form of "tent bank" and "mobile bank" shortly after the earthquake.
Response of Love - Wide Relief Fundraising
Direct Contribution
After the earthquake, the institutions and staffs of Bank of China at home and abroad donated more than RMB 150 million to the disaster area, including approx RMB 78.83 million from the staff at domestic branches, HKD 13.86 million from Bank of China (Hong Kong) through the Hong Kong Red Cross, and RMB 11.61 million equivalent from overseas institutions and staffs of the bank.
● Bank of China donated for the relief and restoration efforts shortly after the earthquake through the Red Cross Foundation.
Opening Green Global Donation Channel
More than 10,000 outlets of Bank of China all over the world opened the Green Global Donation Channel, set up special counters and accounts for donation, published the account numbers and hotlines of the disaster relief institutions, and prioritized the donation remittance service without remittance fee regardless of the currency or amount. As a result, the bank became the main channel for overseas Chinese, staffs and foreign friends to donate to the quake-hit areas.
● With a donation fundraising advertisement of "Stand Together to Overcome Disaster" released at the front page of Sing Tao Daily, the most influential local newspaper in Chinese, Bank of China London Branch raised GBP 10,600 within just one day from all levels of local charitable people.
Participation in Relief Activities
 Bank of China made an active presence in and supported various relief fundraising activities: the bank subscribed RMB 500,000 to the Thomas Cup gold medal donated by Champion Lin Dan in the bazaar of Chinese badminton team; organized the Olympic Merchandise Bazaar for Earthquake Region; initiated the disaster aid charity activities together with Federation of Charitable Organizations; funded the China Disabled People's Performing Art Troupe's "My Dream" UK charity performance, with all the income donated to the disaster area.
● Bank of China subscribed the Thomas Cup gold medal and a shirt of badminton men's singles in support of post-disaster reconstruction.
 Launch of Public Benefit Products
Bank of China launched Great Wall Payment Debit Card with charity and public benefit characteristics. The bank would donate RMB 1 to the disaster area for each application of such card. In this way, more than RMB 4.26 million of charitable funds was raised to be solely used for the reconstruction of school facilities in Sichuan disaster areas.
● The Great Wall Payment Debit Cards issued by Bank of China
Inescapable Duty - Fully Support to Restoration Efforts
● Bank of China and Dongfang Electric Corporation signed a comprehensive strategic cooperation agreement on the financial services to the restoration and reconstruction efforts.
Bank of China extended credit to the restoration and reconstruction efforts in disaster area. It signed a RMB 300 billion comprehensive strategic cooperation agreement with the Sichuan provincial government. Besides, the bank successively signed financial cooperation and service guarantee agreements with those key and backbone enterprises like Dongfang Electric Corporation, Pangang Group Company Ltd., Sichuan Expressway Construction & Development Corporation, Sichuan Airlines, Sichuan Development Holding Company, and Chengdu municipal government, to satisfy their financing needs on production resumption and major infrastructure projects during the post-disaster reconstruction. Bank of China also put forward the "Housing Reconstruction" comprehensive service plan based on the practical demand of the affected residents in the disaster area, offering various financial services including assets re-management, Anjia-Anxin consumer loan, and new life plan for wealth management. Additionaly, it signed consumer loan cooperation agreements with over 20 real estate development companies and auto dealers including Vanke Company Ltd., Greenland Group, and Southwest Auto Trade Company, with a total loan exceeding RMB 18 billion.
● Bank of China's staffs supported the disaster-affected people and Beijing Olympic Games.
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