Customer Focused:
We pursue excellence in our products and services
We make full use of our comprehensive advantages as a conglomerate to meet market demand. To build a world-class technologically-driven company, we have been focusing on our customers, expanding our financing businesses, and developing innovative products and services.
Awards and Recognitions
China Securities received the IFF2021 Global Green Finance Award.
CITIC Dicastal’s Aluminum Wheel No. 6 factory in Qinhuangdao was named a world-class Lighthouse Factory by the World Economic Forum in association with McKinsey & Company.
CITIC Construction received the National Labour Day Award for the construction of the Chongli Prince Ice Town for the 2022 Beijing Winter Olympic Games.
CITIC Engineering won first prize in the Digital Construction (Construction Industry) Emerging Group of the Third China Industrial Internet Competition for its BIM-based CITIC Intelligent Construction Platform.
CITIC Heye was named a three-star green building.
CITIC Press received the Advanced Publishing Unit Award in the Fifth China Publishing Government Awards.
Providing Quality Products and Services
To improve our products and services, we constantly listen to our customers’ feedback and suggestions. As a result, we have been able to achieve excellence in our products and gain customer loyalty. In 2021, there were no cases of recalls concerning product and service quality or safety by CITIC or by its subsidiaries.
CITIC Construction Signature Projects
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CITIC Construction completed a number of major projects for the Beijing Winter Olympic Games, including the Chongli Prince Ice Town. It also signed contracts for projects such as the AI Khairat Heavy Oil Power Plant and Yellow River Strategic Jinan International Eco-Port. Projects under way include the Belarusian Agro-industrial Complex, Kazakhstan TKU and KB Highways, Nanjing Science and Innovation Centre and Changjiang New Town.
The Chongli Prince Ice Town
Responding to Customer Feedback
CITIC Bank has strengthened the way it handles customer complaints by referring them to relevant departments for assessment, handling and a timely resolution. A digital system has also been launched to analyse and handle complaints in real time. The early warning monitoring capability of this system helps to uncover pain points associated with CITIC Bank’s products and services. Data generated from the system will help business departments make better operational decisions and increase customer satisfaction levels. As of the end of 2021, a total number of 309,661 cases of complaints were handled and processed.
CITIC Securities receives customer feedback on its business and services through various channels and has set up a mechanism for identifying which departments and persons should handle complaints. Complaints handling results are incorporated into the compliance appraisal scheme with rewards and punishments put in place. As of the end of 2021, a total number of 228 cases of complaints were handled via 12386 CSRC hotline, regulator transferring, customer hotline or by channels of branch offices.
CITIC Press has a customer service team of over 40 staff handling customer complaints through feedback channels, including 400 hotlines and an online customer service platform. Its well-developed customer feedback handling process ensures complaints are resolved in a timely and effective manner.
Improvements to Customer Service
China Securities continued to improve its advisory platform, Uwen, which analyses client feedback and provides standard answers to staff in real time, thereby optimising the customer experience. In 2021 the number of enquiries on the Uwen platform reached 2.21 million, an increase of 65% year-on-year.
CITIC Press has a department dedicated to improving the user experience through research and service management. This has enabled it to optimise product quality and business processes and meet the needs of users.
Trademarks and Advertisements
We have developed Trademark Management Regulations to guide us on the use of our trademark resources in order to protect the CITIC brand and assets. The use of trademarks and the trademark licensing process are constantly reviewed to enhance the value of the brand and the Company. We also combat trademark infringements and protect the exclusive rights of registered trademarks for CITIC and its subsidiaries.
We established The Regulations on the Management of Overseas Placement of Advertisements, specifying the content, advertising channels, approval process and method of project execution to be used in the placement of overseas advertisements.
CITIC Bank formulated Intellectual Protection Measures and Advertising Management Measures to standardize the brand management to conduct daily monitor of copycat brand and to file for legal protection.
Product Quality Check and Recall Procedures
In accordance with international, national, industrial, safety standards, enterprise and product design, acceptance and technology standards, CITIC Heavy Industrial built a sound quality measurement system that checks, verifies and monitors the product whole process from raw material entry to product deliver to ensure quality; it offers product guarantee service, including free repair, replace and refund services under the conditions that products could not meet the quality standard or the requirements from agreements within guarantee period. In 2021, there were no major complaints or product recalls.
CITIC Press sends clear requirement before each printing order and invited professionals to monitor the process; adopts strict warehouse entry check with professional inspectors; each book has a contact number with printers should our customers find any flaws with the printing. In 2021, there were no recalls concerning product and service quality.
Increasing Our Investment in Science and Technology
As a technology-focused company, we put innovation at the forefront of our operations and scientific research. With the completion of our first series of expert assessments and major scientific research projects, we are gradually improving our technological standards.
CITIC Bank has piloted a number of product lines, while maintaining its industry-leading position in blockchain technology.
At CITIC Heavy Industries, we continue to supply components to equipment of national importance. CITIC Telecom International built a research system for cloud-network integration, digital upgrades and industry applications, with the aim of becoming a global provider of intelligent digital communication solutions. CITIC Agriculture contributed to the country’s farming industry in major national projects with LongPing Hi-Tech and LongPing Development. CITIC Construction was accredited as a national high-tech company, while CITIC Engineering carried out a major BIM project that has digitalised the entire engineering construction process.
On 13 January 2022, the Company held the first Science and Technology Innovation Conference and announced the first batch of the Group’s top ten science and technology innovation projects. These included the Financial Full Stack Cloud Construction and Key Equipment for Auto Manufacturing Reform projects.
Case Study: CITIC Dicastal: A World-class “Lighthouse Factory”
On 27 September 2021, CITIC Dicastal’s Aluminium Wheel No. 6 Production Line in Qinhuangdao was recognised as a world-class “Lighthouse Factory” by the World Economic Forum in association with McKinsey & Company. A Lighthouse Factory is one that makes use of Fourth Industrial Revolution technology in the process of digital transformation to improve the overall efficiency of the industrial chain and achieve sustainable development. This not only creates a new competitive advantage, but also serves as an important model for the transformation of manufacturing.
At CITIC Dicastal, the key processes in its Aluminium Wheel No. 6 Production Line include high-tech solutions such as big data, AI deep learning and 5G technology, which help to optimise production and achieve a high degree of automation and smart production. Other improvements are a reduced dependency on personnel, accelerated mass production, better product quality and fewer raw material losses. As a result, overall production costs have fallen by 33%, equipment efficiency has increased by 21.4%, the product defect rate has decreased by 20.9%, delivery times have shortened by 37.9%, and energy usage efficiency has improved by 39%.
The key core technologies in the production line, which are controlled autonomously, and the overall digitalisation and technology are 5 to 10 years ahead of the production line’s global counterparts. Furthermore, the design and construction technology used are replicable and scalable, and CITIC Dicastal is now gradually transforming all of its production lines with the intelligent solutions it has implemented.
Protecting the Legal Rights of Our Customers
We provide quality products and services to our customers, while also protecting their rights and interests in strict accordance with Law of the PRC on the Protection of the Rights and Interests of Consumers, Personal Information Protection Law of the PRC, Data Security Law of the PRC.
Protecting Customer Information Security and Privacy
CITIC Bank has formulated Customer Information Protection Management Measures (Trial) and protects customer information, including sensitive information such as personal data, asset records and account balances. It has also strengthened its preventive and control measures at network boundaries and critical nodes, and installed multi-layer network security facilities, while tightening control over employees’ working computers to prevent illegal access and data transfer. Based on the principles of “business needs” and “minimum access”, the Company sets user permissions for application systems and data management. Sensitive data scanning and information security risk checks will continue to improve the effectiveness of its customer protection measures.
CITIC Securities has clarified its organisational structure and division of functions for data security management. The Company ensures information security by establishing a sound data lifecycle management mechanism and integrating data security management into all data processing activities. In addition, data security and compliance requirements are embedded in the system and business processes to ensure the use of data is in line with its security management level and internal control capabilities. The Company has also standardised the protection of customer information by developing an authorisation form for personal information and updating the privacy protection clause to protect customer information.
Protecting Customers’ Right to Information
CITIC Securities has improved its management system and code of conduct. It has also revised policies such as the Operational Guidelines for Professional Investor Accreditation and the Wealth Management Committee Implementation Rules for Investor Appropriateness Management. This has increased the number of risk assessments and risk alert notices for customers with inappropriate risk levels within a short period of time. In addition, the Company adjusted its rating of investors, products and services in order to recommend suitable products.
Promoting Industry Knowledge
CITIC Bank and the Shanghai International Banking and Finance Institute of the Shanghai University of Finance and Economics organised the 6th National University Student Financial Innovation Competition 2021. Nearly 2,000 students and teachers from over 200 universities across China met on the cloud for the competition. A Digital Finance Business Capability Contest and Internet Finance Innovation and Operation Management Contest were held enabling universities and students to exchange ideas and showcase their talents. Since its inception, CITIC Wealth has been cultivating the concept of responsible investment and enriching investor education through multiple channels, both online and offline. In future, CITIC Wealth will continue to fulfil the national policy of common prosperity and financial inclusion. It will also continue to partner with universities and colleges to promote financial education.
CITIC Securities launched a special investor education campaign focusing on the reform of the New Third Board and establishment of the Beijing Stock Exchange. Topics covered included issuance and trading, information disclosure, corporate governance and regulatory compliance. Over 10,000 copies of the Selected Business Rules of the Beijing Stock Exchange were printed, and over 30,000 copies of the System and Rules of the Beijing Stock Exchange and Rules for the Administration of Trading and Investor Appropriateness of the Beijing Stock Exchange (for trial use) were distributed. The campaign organised 111 online and offline events and reached a total of 8,146 investors.
In addition to regular monthly educational campaigns, CITIC-Prudential Life organised promotions on the prevention of illegal fund raising, telephone fraud, elderly scams and the application of smart technology for important educational events.
Protection for Whistleblowers
CITIC Bank Issued a Notice on Regulating Inquiring and Using of Personal Information in Handling Complaints and reiterated the importance of compliance with relevant laws in protecting personal information and safeguarding customers’ rightful interests while timely respond to complaints.
Customer Protection Training
CITIC Bank organised customer protection trainings with 54,000 staff attendees to improve clients protection awareness and enhance service quality in the business process.
