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Hu Qinghua, Chief Risk Officer of CMB leads a team at MFL for survey and guidance.
At the research discussion, Wan Xiaofang made a report on the major problems of MFL's basic operation and risk management in the aspects of risk line work, and on subsequent arrangement of related key work. Then, Deng Yi, Chief Risk Officer gave a detailed report on MFL’s risk work in 2017 and risk work arrangement in 2018, and put forward the issues and requirements of requesting CMB’s help and coordination.
Subsequently, Zhou Wei summed up the experiences and lessons in business development and risk management since the establishment of MFL ten years ago, made it clear that in the future MFL would firmly implement the development strategy, build risk management system with the characteristics of MFL and financial leasing. At the same time, MFL would continuously adjust the development direction and industrial structure, formulate asset portfolio strategy and risk management policy. He said that MFL’s future development is inseparable from the help and support of CMB, and it was the new driving force of MFL’s development in the second decade to entirely strengthen cooperation with CMB and fully play the advantage of CMB group.
Next, Li Jian, MFL’s Deputy Party Secretary and Chairman of Board of Supervisors made a report on the key work arrangement of board of supervisors. He put forward to actively implement the development strategy, to fully grasp and truly reflect MFL’s financial situation, to strengthen the supervision and inspection of comprehensive risk management, to highly attach great importance to the construction of internal control compliance system, to improve the work of supervision and evaluation, and simultaneously to strengthen the follow-up and supervision of problem rectification of internal and external supervision.
After completion of reports made by MFL’s executives, Li Ziyu, General Manager of CMB’s Risk Management and Quality Control Department, Huang Shaohui, General Manager of CMB’s Business Risk Management, and Chen Jun, General Manager of CMB’s Legal Compliance Department respectively from their in charge of work areas proposed opinions and suggestions in the aspects of MFL’s next work development and its coordination with CMB.
After listening to the reports and exchanges, Hu Qinghua, Chief Risk Officer of CMB made an important speech. He fully affirmed the achievements of MFL in the past year, and highly recognized the improvement of MFL’s operation ability and progress of risk compliance management. And in his speech, he pointed out that it was a very correct strategy for MFL to strengthen coordination with CMB and actively seek support from CMB, and CMB would use its own resources to continuously give full support on the basis of respect for MFL's specialty and independence. At the same time, he also proposed two requirements for MFL's business development and risk management:
First, unswervingly follow the path of high quality and characteristic development, and constantly improve operation ability. MFL should do real leasing business, improve the professional level, grasp the nature of leasing, and play the advantages of leasing. At the same time, MFL should constantly improve innovation ability, follow the situation in the great development of China. We should step out of the original thinking and seek for breakthrough opportunities, stand at the forefront of the industry through innovation. MFL should also fully play its own characteristics to walk in the specialized road, strengthen the coordination with CMB in the business development to play a linkage effect. It should view private big customers as an important market of future development, rely on products and solutions to overcome big customers, and actively participate in CMB’s marketing to private big clients.
Second, deeply summarize the experiences and lessons of the decade, put risk management in a more important position to enhance risk management ability, pursue sustainable development and create a risk management system with leasing characteristics. We should recognize risk management to be the core of financial institutions, strengthen the awareness of risk compliance, emphasize overall risk management to effectively improve risk management ability and to create a strong risk compliance culture. At the same time, we should maintain the intensity of collection, settlement and disposal of stock non-performing assets (NPA), and make a firm decision to address the historical problems in three to five years to restore the healthy quality of MFL's assets. In addition, we should maintain the relative independence of risk line in terms of mechanism, make risk managers have the courage to voice their comments, to tell the truth, and to put forward different opinions in terms of culture, and timely rectify the problems found by CMB through its audit.
Zhou Wei said that MFL would actively promote and implement the requirements of CMB for MFL’s operation and risk management, strive to resolve the non-performing assets, adjust the development direction and asset structure, strengthen business synergy and risk management synergy with CMB to realize the professional and international strategic target of MFL in the second decade.