Employees:
Developing Talent and Supporting Staff Growth

As of the end of 2022, CITIC Limited had a total of 161,408 official employees, with women making up 39% of our workforce and employees under the age of 35 accounting for 52% of our team.

Employment Statistics

Employee Turnover Statistics

Promoting Inclusivity, Building a Platform for Talent Growth

At CITIC, we prioritise inclusivity and fairness and fully adhere to all relevant employment laws and policies. Our labour contracts signing rate is 100%. Under our management policies, we have standardised labour contracts and mediation committees comprising both employee and company personnel to ensure balanced representation. We also have an employee complaint policy that provides a fair, efficient and equal mechanism for addressing employee grievances, with the aim of building harmonious and stable labour relations.

In our employee recruitment and career development, we emphasise job-person matching, transparency and fairness, with strict prohibitions against the employment of child labour and forced labour. In line with these policies, we do not tolerate discrimination against anyone based on their race, gender, religion, ethnicity, nationality or physical disabilities. We also provide anti-discrimination and anti-harassment training to promote a harmonious and diverse workplace culture.

We believe that listening to our employees is critical to our success and have established an employee congress so that major issues affecting the interests of employees can be reviewed. We have also advocated for collective contracts⁵ that safeguard the rights and interests of women. All financial subsidiaries and some industrial subsidiaries have already completed this process, including a collective contract at our headquarters in March 2023 that will remain in effect for three years. Our ultimate goal is to have all subsidiaries to arrange collective contracts for protecting female employees' legal rights and interests, and to advocate the gender equality in our company.

CITIC Bank set up feedback mechanisms so that employees can report problems and make suggestions. These include the President’s Mailbox, a Department General Manager’s Mailbox and Speak Up, a platform that has received 205,000 visits and 4,722 suggestions. The overall resolution rate of issues received through these channels is 90%, with an average satisfaction rating of 4.78 out of 5.

CITIC Mining in Australia fully respects the festivals and cultural customs of different ethnicities and races among its employees and contracted personnel, who are encouraged to participate in the activities of indigenous communities as a way to promote cultural exchange.

At CITIC Heavy Industries, the labour union signs collective contracts and wage agreements with management representatives on behalf of all employees.

Improving our Performance-based Compensation System

We have made a significant effort to improve our performance-based compensation system, bring it in line with local government policies, and benchmark it against industry standards. Employees receive competitive compensation packages and are rewarded based on their performance and contributions to the company.

Employee compensation structures align with the specific requirements of different roles, including special bonuses for positions in sales and investment. Clear rules have also been established for deferred bonuses and compensation reclaiming and withholding mechanisms mechanisms for our financial subsidiaries, including information disclosure, board review and regular reporting.

We have been continually upgrading our incentive and restraint mechanisms to ensure the sustainable development of the Company, as well as our medium- and long-term incentive plans. We have also continued to improve our employee insurance, welfare plans, working hours and vacation policies.

As required by the Hong Kong SAR Government, we contribute to the Mandatory Provident Fund for all employees in Hong Kong. In compliance with local regulations in the Chinese mainland, we have achieved full basic social insurance coverage for all employees. Most of our domestic subsidiaries have enterprise annuities (supplementary pension insurance) as well as supplementary medical insurance. Over 156,000 employees of CITIC, including retired employees and others, now receive insurance coverage.

In 2022, we conducted a comprehensive review of our compensation management system throughout the company. A total of 65 compensation and performance-related issues were also identified and rectified within our subsidiaries. In response to concerns raised by both employees and our company, we carried out a special initiative to improve employee satisfaction with their compensation.

Expanding our Training Channels

We are continuously improving our training programmes in support of our talent-driven strategy, which is reflected in our 14th Five-Year Plan for talent development. Our training now includes a focus on six key types of individuals: those with expertise in inter-disciplinary management and operations, finance, technology, international business and high- skilled areas, as well as outstanding young talent.

We have also been re-evaluating professional qualifications, which resulted in 95 employees receiving senior professional titles and 103 international and domestic professional qualifications being recognised with corresponding job titles. In addition, we recommended five individuals for the National Talent Program and assisted one person in his application for a National Technical Expert title. Moreover, we provided guidance to our subsidiary companies on how to apply for post-doctoral research centers and provided opportunities for experts to take part in professional seminars.

In 2022, we helped 45 management personnel participate in specialised training organised by higher-level units and 736 employees to take online courses in carbon neutrality. We also introduced 34 collaborative training programmes for 998 employees. Additionally, we arranged training for young and middle-aged staff as well as orientation classes for new employees, amounting to a total of 420 class hours. Seven online training programmes and 23 webinars were also offered, as well as more than 1,000 professional courses. The cumulative participation in course learning reached 120,000 person-times, with online trainee numbers continuing to hit new highs. We also improved the functionality of our online learning system, supported the diverse learning needs of employees and expanded the number of learning channels we provide.

For the management trainee programme offered at our headquarters, we have improved the learning platform and database while ensuring returnees from job rotations are placed in appropriate positions. We also set up a quarterly reporting system to monitor the progress of previous management trainees returning from job rotations. To maintain a consistent and positive employer brand for CITIC, we expanded our cooperation with key domestic universities. According to our Employee Code of Conduct, we provide courses on ethical practices for new employees and middleaged managers. We also improved the mechanism set up for integrity reporting, clue transfer and supervision results sharing, which cover our young employees.

CITIC Heavy Industries established a dual-track approach to talent development that combines performance and ability, as well as a five-tier management system for technical talent. For our highly skilled team of blue collar workers, we made progress with our Gold-Blue-Collar Programme and set up a national model workers studio, comprising seven master craftsman studios and 16 chief employee innovation workstations. As a result of these initiatives, many exemplary industrial workers have emerged, including those who have been recognised as national model workers and top 10 craftsmen.

China Securities has supported employee development by providing reimbursements for professional and technical qualification training, such as the Chartered Global Fintech program. Over 9,800 employees participated in follow-up training for securities practice qualifications during the year, and 6,328 employees participated in follow-up training for fund management practice qualifications, while 1,372 employees received pre-exam training for fund management practice qualifications, and 666 received follow-up training for futures practice qualifications. A total of 189 staff received follow-up training for the Licensing Examination for Securities and Futures Intermediaries (Hong Kong), and 122 participated in continuing education training for accounting, and sponsored 23 employees for their Chartered Global Fintech program and other training.

Employee Training Statistics

Promoting a Caring Workplace and Employee Well-being

We allocated more than RMB4.2 million to provide care and assistance to employees who are facing difficulties or worked during the holidays and participated in disaster relief efforts. We also disbursed RMB911,800 as special heatstroke prevention assistance for frontline workers at 14 branches affected by persistently high temperatures in areas such as Shanghai, Chongqing and Hangzhou. To assist confirmed COVID-19 cases and asymptomatic carriers, we disbursed RMB289,000. We also launched the Golden Autumn Education initiative, which donated RMB221,000 to 76 employees struggling to pay for their children’s education. Furthermore, we collaborated with 32 grassroots labour unions to build a home for employees and allocated resources that benefited frontline employees in need.

As part of our efforts to support our female employees, we built a total of 27 women’s care rooms and mother-and- baby rooms. We also provided legal education and outreach initiatives, including animated videos on the five phases of working women’s lives, and distributed 1,080 legal guides and educational materials.

To help employees balance their work and family lives, we organised four summer daycare programmes for 145 employees and their children, amounting to a total of 20 working days. We also organised various parent-child education activities and offered our support to employees with disabled children.

As many of our young employees have difficulties finding affordable housing, we have set up youth apartments in Beijing and other cities in China. Our Beijing apartment currently accommodates more than 800 young employees. We also organised events for nearly 80 single employees from CITIC, including two online and offline socialising activities held by the All-China Federation of Trade Unions.

To promote a healthy lifestyle among our employees, we strongly encourage all our subsidiaries to organise group jogging activities. We also focus on our employees’ mental health through initiatives such as one-on-one psychological counselling services and lectures on psychology by leading experts.

Providing a Safe and Healthy Work Environment

In accordance with health and safety regulations, we have established a safety committee headed by our Chairman and General Manager to ensure the adequacy of our emergency response capabilities. In 2022, we introduced measures that categorise the safety production risks of our subsidiary companies into three levels, based on their business activities. The measures outline the safe production methods to be followed, as well as the prevention measures, contingency plans and reporting and incentive systems to be complied with. This has improved safety at all levels of the whole system, contributed to the well-being of our employees and helped to protect our Company’s physical assets.

In 2022, we undertook a one-and-a-half month safety production inspection of all our first-tier subsidiaries. The inspection focused on seven key areas: leadership responsibility, organisational structure, system construction, prevention mechanisms, emergency management, management and control of important business locations and key buildings. A simultaneous safety risk investigation was also carried out. In addition, our subsidiary companies were required to conduct self-inspections, with on-site inspections for those based in Beijing and online inspections held for those outside Beijing. Through this exercise, we were able to identify risks for each subsidiary and suggest improvements. A follow-up inspection will be carried out in 2023 to address identified weaknesses.

Employee Health and Safety Statistics