篇一：瓮福集团有限责任公司2015年第一期短期融资券募集说明书
瓮福（集团）有限责任公司
2015年度第一期短期融资券
募集说明书
注册金额： 人民币 10亿元
发行金额： 人民币 5亿元
发行期限：366天
担保情况： 无担保
信用评级机构： 中诚信国际信用评级有限责任公司
发行人主体长期信用等级：AA级
本期短期融资券信用等级：A-1级
发行人：瓮福（集团）有限责任公司
主承销商及簿记管理人：中国工商银行股份有限公司
联席主承销商：国家开发银行股份有限公司
二〇一五年四月
声 明
本公司发行本期短期融资券已在中国银行间市场交易商协
会注册，注册不代表交易商协会对本期短期融资券的投资价值做 出任何评价，也不代表对本期短期融资券的投资风险做出任何判 断。投资者购买本公司本期短期融资券，应当认真阅读本募集说 明书及有关的信息披露文件，对信息披露的真实性、准确性、完 整性和及时性进行独立分析，并据以独立判断投资价值，自行承 担与其有关的任何投资风险。
本公司董事会已批准本募集说明书，全体董事承诺其中不存 在虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性、 完整性、及时性承担个别和连带法律责任。
本公司负责人和主管会计工作的负责人、会计机构负责人保 证本募集说明书所述财务信息真实、准确、完整。
凡通过认购、受让等合法手段取得并持有本公司发行的本期 短期融资券，均视同自愿接受本募集说明书对各项权利义务的约 定。
本公司承诺根据法律法规的规定和本募集说明书的约定履
行义务，接受投资者监督。
截至募集说明书签署日，除已披露信息外，无其他影响偿债 能力的重大事项。
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目 录
第一章 释 义 ...........................................................................................................1
第二章 投资风险提示及说明 ...................................................................................4
一、与本期短期融资券相关的投资风险................................4
二、与本期短期融资券发行人相关的投资风险..........................4
第三章 发行条款 .....................................................................................................10
一、本期短期融资券主要发行条款...................................10
二、本期短期融资券发行安排.......................................11
三、投资者承诺...................................................12
第四章 本期短期融资券募集资金用途 .................................................................14
一、本期短期融资券募集资金的使用.................................14
二、本期短期融资券募集资金的管理.................................14
三、发行人承诺...................................................15
四、偿债保障措施.................................................15
第五章 发行人的基本情况 .....................................................................................17
一、发行人基本信息...............................................17
二、发行人历史沿革...............................................18
三、发行人股权结构...............................................19
四、发行人控股股东及实际控制人...................................20
五、发行人独立性.................................................20
六、发行人主要子公司情况.........................................21
八、发行人董事、监事及高级管理人员...............................37
九、发行人主营业务情况...........................................43
十、发行人主要在建项目和拟建项目.................................59
十一、发行人主营业务发展规划.....................................62
十二、发行人所在行业状况及行业地位...............................64
第六章 发行人主要财务状况 .................................................................................72
一、发行人财务报告编制及审计情况.................................72
二、发行人历史财务数据...........................................76
三、发行人财务情况分析...........................................84
四、发行人主要财务指标...........................................99
五、发行人有息债务情况..........................................101
六、发行人关联交易情况..........................................106
七、发行人主要或有事项..........................................108
八、发行人金融衍生品、大宗商品期货、理财产品投资情况............112
九、发行人海外投资情况..........................................112
十、直接债务融资计划............................................113
十一、其他需要说明的重要事项....................................113
第七章 发行人资信情况 .......................................................................................115
一、发行人信用评级情况..........................................116
二、发行人银行授信情况..........................................118
三、发行人债务违约记录..........................................119
四、发行人债务融资工具偿付情况..................................119
第八章 本期短期融资券信用增进 .......................................................................121
第九章 税务事项 ...................................................................................................122
一、营业税......................................................122
二、所得税......................................................122
三、印花税......................................................122
第十章 信息披露 ...................................................................................................123
一、短期融资券发行前的信息披露..................................123
二、短期融资券存续期内定期信息披露..............................123
三、短期融资券存续期内重大事项披露..............................123
四、短期融资券本息兑付信息披露..................................124 第十一章 违约责任与投资者保护 .......................................................................125
一、违约事件....................................................125
二、违约责任....................................................125
三、投资者保护机制..............................................125
四、不可抗力....................................................129
五、弃权........................................................130 第十二章 本期短期融资券发行的有关机构 .......................................................131
一、发行人......................................................131
二、承销团......................................................131
三、发行人法律顾问..............................................135
四、审计机构....................................................135
五、信用评级机构................................................136
六、托管人......................................................136 第十三章 本期短期融资券备查文件及查询地址 ...............................................137
一、备查文件....................................................137
二、查询地址....................................................137 附 录：主要财务指标计算公式 ...........................................................................139
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瓮福（集团）有限责任公司2015年度第一期短期融资券 募集说明书
第一章 释 义
在本募集说明书中，除非上下文另有规定，下列词汇具有以下含义：
本公司/公司/发行人/瓮福 指瓮福（集团）有限责任公司
集团
非金融企业债务融资工具 指 具有法人资格的非金融企业在银行间债券市场发 /债务融资工具
短期融资券
本期短期融资券
本次发行
募集说明书
发行公告
人民银行
交易商协会
银行间市场
上海清算所
主承销商
联席主承销商
承销商 行的，约定在一定期限内还本付息的有价证券 指 具有法人资格的非金融企业在银行间债券市场按 照计划分期发行的，约定在一定期限还本付息的 债务融资工具 指 发行额度为人民币 5亿元、期限为 366天的瓮福 （集团）有限责任公司 2015年度第一期短期融资 券 指 本期短期融资券的发行 指 公司为本次发行而制作的《瓮福（集团）有限责 任公司 2015年度第一期短期融资券募集说明书》 指 公司为本次发行而制作的《瓮福（集团）有限责 任公司 2015年度第一期短期融资券发行公告》 指 中国人民银行 指 中国银行间市场交易商协会 指 全国银行间债券市场 指 银行间市场清算所股份有限公司 指 中国工商银行股份有限公司 指 国家开发银行股份有限公司 指 与主承销商、联席主承销商签署承销团协议，接
受承销团协议与本次发行有关文件约束，参与本
期短期融资券簿记建档的机构
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篇二：上市公司公开发行证券募集说明书
关于发布《公开发行证券的公司信息披露内容与格式准则第11号――上市公司公开发行证券募集说明书》的通知
证监发行字[2006]2号
各上市公司、各保荐机构：
为规范上市公司公开发行证券募集说明书的编制行为，现发布《公开发行证券的公司信息披露内容与格式准则第11号――上市公司公开发行证券募集说明书》，自发布之日起实施。《公开发行证券的公司信息披露内容与格式准则第11号――上市公司新股招股说明书》、《公开发行证券的公司信息披露内容与格式准则第13号――可转换公司债券募集说明书》同时废止。
二○○六年五月八日
公开发行证券的公司信息披露内容与格式准则 第11号――上市公司公开发行证券募集说明书
目 录
第一章 总 则
第二章 募集说明书
第一节 封面、书脊、扉页、目录、释义
第二节 本次发行概况
第三节 风险因素
第四节 发行人基本情况
第五节 同业竞争与关联交易
第六节 财务会计信息
第七节 管理层讨论与分析
第八节 本次募集资金运用
第九节 历次募集资金运用
第十节 董事及有关中介机构声明
第十一节 备查文件
第三章 募集说明书摘要
第四章 附 则
第一章 总 则
第一条 为规范上市公司公开发行证券的信息披露行为，保护投资者的合法权益，根据《公司法》、《证券法》、《上市公司证券发行管理办法》,制定本准则。
第二条 发行人编制配股说明书、增发招股意向书、增发招股说明书、可转换公司债券募集说明书、分离交易的可转换公司债券募集说明书等募集说明书及其摘要，应当符合本准则的要求。
第三条 募集说明书的编制应遵循以下要求：
（一）使用通俗易懂的事实描述性语言，并采用表格或其他较为直观的方式披露公司及其产品、财务等情况；
（二）引用的资料应注明来源，事实依据应充分、客观；
（三）引用的数字应采用阿拉伯数字，有关金额的资料除特别说明之外，应指人民币金额，并以元、千元或万元为单位；
（四）发行人可编制募集说明书外文译本，但应保证中外文文本的一致性，在对中外文本的理解上发生歧义时，以中文文本为准；
（五）募集说明书摘要的编制必须忠实于募集说明书全文的内容，不得出现与全文相矛盾之处。
第四条 在不影响信息披露的完整并保证阅读方便的前提下，发行人可采用相互引征的方法，对各相关部分的内容进行适当的技术处理；对于曾在募集说明书、上市公告书和定期报告、临时报告中披露过的信息，如事实未发生变化，发行人可采用索引的方法进行披露，以免重复。
第五条 上市公司发行证券刊登的募集说明书摘要最小字号为标准小5号字，最小行距为0.35毫米。
发行人将募集说明书及其摘要全文刊登并保留在公司网站的，其内容应当与在报刊上刊登的一致。
第六条 增发招股意向书除发行数量、发行价格及筹资金额等内容可不确定外，其内容和格式应与增发招股说明书一致。
增发招股意向书应载明“本招股意向书的所有内容均构成招股说明书不可撤销的组成部分，与招股说明书具有同等法律效力”。
发行价格确定后，发行人应编制增发招股说明书，刊登于中国证监会指定的互联网网站，并报中国证监会备案。
第七条 特殊行业的发行人编制募集说明书及其摘要，还应遵循中国证监会关于该行业的信息披露特别规定。
第二章 募集说明书
第一节 封面、书脊、扉页、目录、释义
第八条 募集说明书文本封面及书脊应标明“***股份有限公司***说明书”字样，封面还应载明已经上市股票简称和代码、发行人注册地、保荐机构、主承销商、募集说明书公告时间。
第九条 募集说明书文本扉页应当刊载如下声明：
“本公司全体董事、监事、高级管理人员承诺募集说明书及其摘要不存在任何虚假、误导性陈述或重大遗漏，并保证所披露信息的真实、准确、完整”。
“公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证募集说明书及其摘要中财务会计报告真实、完整”。
“证券监督管理机构及其他政府部门对本次发行所作的任何决定，均不表明其对发行人所发行证券的价值或者投资人的收益作出实质性判断或者保证。任何与之相反的声明均属虚假不实陈述”。
“根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发行人自行负责，由此变化引致的投资风险，由投资者自行负责”。
第十条 发行人认为对投资者有重大影响的事项，应在募集说明书文本扉页中作“重大事项提示”，提醒投资人关注。
第十一条 募集说明书目录应标明各章、节的标题及其对应的页码。发行人应对可能对投资者理解有障碍及有特定含意的术语作出释义。募集说明书释义应在目录次页排印。
第二节 本次发行概况
第十二条 本节披露本次发行的基本情况：
（一）发行人中英文名称及注册地、境内上市股票简称和代码、上市地；
（二）本次发行的核准文件、证券类型、发行数量、证券面值、定价方式或发行价格、预计募集资金量（含发行费用）及募集资金净额、募集资金专项存储的账户；
（三）发行方式与发行对象；
（四）承销方式及承销期；
（五）发行费用；
（六）承销期间的停牌、复牌及本次发行证券上市的时间安排、申请上市证券交易所；
（七）本次发行证券的上市流通，包括各类投资者持有期的限制或承诺。
发行可转换公司债券的，应载明主要发行条款、评级或担保情况。
第十三条 本节应披露本次发行涉及的下列机构的名称、法定代表人、经办人员、办公地址、联系电话、传真：
（一）发行人；
（二）保荐机构和承销团成员；
（三）发行人律师事务所；
（四）审计机构；
（五）资产评估机构；
（六）申请上市的证券交易所；
（七）收款银行；
（八）资信评级机构；
（九）债券的担保人。
第三节 风险因素
第十四条 发行人应当遵循重要性原则，按顺序披露可能直接或间接对发行人生产经营状况和持续盈利能力产生重大不利影响的所有因素。
发行人应针对自身的实际情况，充分、准确、具体地描述相关风险因素。
发行人应对所披露的风险因素做定量分析，无法进行定量分析的，应有针对性地作出定性描述。
有关风险因素对发行人生产经营状况和持续盈利能力有严重不利影响的，应做“重大事项提示”。
第十五条 发行人应披露的风险因素包括但不限于下列内容：
（一）产品或服务的市场前景、行业经营环境的变化、商业周期或产品生命周期的影响、市场饱和或市场分割、过度依赖单一市场、市场占有率下降；
（二）经营模式发生变化、经营业绩不稳定、主要产品或主要原材料价格波动、过度依赖某一重要原材料、产品或服务、经营场所过度集中或分散；
（三）资产周转能力较差导致的资产流动性风险、现金流状况不佳及债务结构不合理导致的偿债风险、各项主要资产减值准备计提不足的风险、重大对外投资和境外投资管理不善或财务失控的风险、非经常性损益比重较大等因素导致发行人盈利来源不稳定的风险、发行人未来资本性支出计划存在的投资风险；
（四）技术不成熟、技术尚未产业化、技术缺乏有效保护或保护期限短、缺乏核心技术或核心技术依赖他人、产品或技术面临被淘汰；
（五）投资项目在市场前景、技术保障、产业政策、环境保护、土地使用、融资安排、与他人合作等方面存在的问题，因营业规模、营业范围扩大或者业务转型而导致的管理风险、业务转型风险，因固定资产折旧大量增加而导致的利润下滑风险，以及因产能扩大而导致的产品销售风险；
（六）由于财政、金融、税收、土地使用、产业政策、行业管理、环境保护等方面法律、法规、政策变化引致的风险；
（七）可能严重影响公司持续经营的其他因素，如自然灾害、安全生产、汇率变化、外贸环境、担保、诉讼和仲裁等。
第四节 发行人基本情况
第十六条 发行人应披露本次发行前股本总额及前10名股东持股数量、股份性质及其股份限售情况。
第十七条 发行人应以图表方式披露其组织结构和对其他企业的重要权益投资情况。 列表披露发行人直接或间接控股企业的成立时间、注册资本、实收资本、发行人持有的权益比例、主要业务及主要生产经营地、最近一年该企业总资产、净资产、营业收入、净利润等财务数据，并注明有关财务数据是否经过审计及审计机构名称。
第十八条 发行人应披露控股股东和实际控制人的基本情况。实际控制人应披露到最终的国有控股主体或自然人为止。
若发行人的控股股东或实际控制人为自然人，应披露其姓名、简要背景及所持有的发行人股票被质押的情况，同时披露该自然人对其他企业的投资情况。
若发行人的控股股东或实际控制人为法人，应披露该法人的名称及其股东。披露该法人的成立日期、注册资本、主要业务、主要资产的规模及分布、最近一年母公司财务报表的主要财务数据、所持有的发行人股票被质押的情况。
第十九条 发行人应披露其所从事的主要业务、主要产品（或服务）的用途。
发行人从事多种业务和产品（或服务）生产经营的，关于业务和产品（或服务）分类的披露应前后一致，不得采用多种统计口径进行披露。
如果发行人的主要业务和产品（或服务）分属不同行业，应分行业披露相关信息。 第二十条 发行人应结合其主要业务和主要产品（或服务）披露所处行业的基本情况，包括但不限于：
（一）行业的主管部门、监管体制、主要法律法规及政策等；
（二）行业竞争格局和市场化程度、行业内的主要企业及其市场份额、进入本行业的主要障碍、市场供求状况及变动原因、行业利润水平的变动趋势及变动原因等；
（三）行业技术水平及技术特点、行业特有的经营模式、行业的周期性、区域性或季节性特征等；
（四）发行人所处行业与上、下游行业之间的关联性及上下游行业发展状况；
（五）出口业务比例较大的发行人，还应披露产品进口国的有关进出口政策，贸易磨擦对产品进口的影响，以及进口国同类产品的竞争格局等情况。
第二十一条 发行人应披露在行业中的竞争地位，包括发行人的市场占有率、近3年的变化情况及未来变化趋势，主要竞争对手的简要情况等。
第二十二条 发行人应根据重要性原则披露主要业务的具体情况，主要包括：
（一）分别按主要产品、销售区域、销售模式披露最近3年及一期的营业收入构成；
（二）主要产品的工艺流程或服务的流程图；
（三）主要经营模式，包括生产模式、采购模式、销售模式；
篇三：国内银行海外上市招股书(中英对照)
国内银行海外上市招股书（中英对照）
国内银行海外上市招股书原文
INDUSTRY OVERVIEW
The information set forth below is mainly about the PRC banking sector. It is derived from official sources. While our Directors have exercised reasonable care in compiling and reproducing the
information, it has not been independently verified by the Company, the Directors, the Underwriters
or any of our or their respective affiliates or advisers. This information may not be consistent with
other information compiled within or outside the PRC. In particular (but without limitation), a number
of overseas market observers have estimated that the level of the non-performing loans in the PRC
banking system may be considerably higher than the figures cited herein, and if such estimates are
true, the level of the PRC banking system’s assets and some of the other related figures included in
this section may be overstated.
OVERVIEW
The PRC banking market is one of the fastest growing banking markets in the world. According to the Almanac of China’s Finance and Banking, from 1999 to 2004, total Renminbi deposits received by
financial institutions in the PRC increased 121.1%, from RMB10,878 billion to RMB24,053 billion, and total Renminbi loans provided by financial institutions in the PRC increased 89.2%, from RMB9,373
billion to RMB17,736 billion. The following table sets forth the total Renminbi loans, total Renminbi
deposits and individual savings deposits in the PRC from 1999 to 2004:
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Source: The People’s Bank of China
The expansion of the PRC banking market has benefited primarily from the underlying economic
growth and the resulting wealth creation and accumulation since the start of the PRC’s economic
modernization in 1978. The following table sets forth GDP and GDP per capita in the PRC from 1999
to 2003:
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DOMESTIC PARTICIPANTS IN THE PRC BANKING SECTOR
The PRC banking sector is comprised of wholly state-owned banks, joint stock commercial banks, policy banks, urban commercial banks, rural commercial banks, rural cooperative banks, urban credit
cooperatives, rural credit cooperatives and foreign-invested financial institutions. The table below sets
forth the number and market share of each type of banking institution as of December 31, 2003.
Number Market share based on total assets
Big Four (1) . . . . . . . . . . . ..
Joint stock commercial banks (2) . . . .
Policy banks . . . . . . . .
Urban commercial banks . . . .
Rural commercial banks . . .
Urban credit cooperatives . . . .
Rural credit cooperatives . . .
China Post Savings . . . . . . .
Foreign-invested financial institutions . . . .
Source: Almanac of China’s Finance and Banking and the People’s Bank of China.
(1) Includes Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank.
(2) Includes Bank of Communications, Citic Industrial Bank, China Everbright Bank, Hua Xia Bank, China Minsheng Bank, Guangdong Development Bank, Shenzhen Development Bank, China Merchants Bank, Industrial Bank, and Shanghai Pudong Development Bank.
Big Four
The big four commercial banks, namely, Industrial and Commercial Bank of China, or ICBC,
Agricultural Bank of China, or ABC, Bank of China, or BOC, and China Construction Bank, or CCB
(together, the "Big Four") have traditionally dominated the PRC banking industry. As of December 31, 2004, according to the PBOC, they accounted for 53.6% of total assets of financial institutions in the
PRC.
Joint Stock Commercial Banks
According to the CBRC, as of December 31, 2004, there were 12 joint stock commercial banks in
the PRC with a nationwide banking license. As of the same date, we were the largest among these
banks in terms of total assets. Joint stock commercial banks generally have diversified shareholders,
including, among others, local government entities and state-owned enterprises. Established mostly in
the late 1980s and early 1990s, these joint stock commercial banks have gradually increased their
collective market share while the market share of the Big Four has gradually decreased. As of
December 31, 2004, according to the CBRC, they accounted for approximately 14.9% of total assets
of financial institutions in the PRC.
Policy Banks
Three policy banks, China Development Bank, Export-Import Bank of China and Agricultural
Development Bank of China, which were established to allow the Big Four to concentrate on
commercial lending, are principally mandated to finance government-sponsored projects.
Other Domestic Banking Institutions
Other domestic PRC financial institutions engaged in commercial banking business include urban
commercial banks, rural commercial banks, rural cooperative banks, urban credit cooperatives and rural credit cooperatives.
PRC BANKING SECTOR REFORM
Reforming the banking sector is one of the major challenges of economic reform undertaken by the PRC government. These reforms have focused primarily on the improvement of the legal and
regulatory framework; the enhancement of asset quality and the capital base; and the liberalization of
interest
rates.
Improvement of the legal and regulatory framework
The steps taken by the PRC government to improve the legal and regulatory framework include:
--the establishment of an independent central banking system, originally with the PBOC as both the
central bank and the banking supervisory authority;
--the establishment of the CBRC in April 2003 to take over the banking supervisory and regulatory
functions of the PBOC; and
--the implementation of new corporate governance and management standards across all PRC financial institutions. See the section headed "Supervision and Regulation".
Improvement of asset quality and enhancement of capital base
The PRC banking sector has been historically burdened with large portfolios of non-performing loans. According to the CBRC, outstanding non-performing loans at the Big Four, policy banks and joint stock commercial banks amounted to approximately RMB1.7 trillion at the end of 2004, representing 13.2%
of the total loans in the PRC. The following table sets forth certain information regarding the
non-performing loans of state-owned and joint stock commercial banks as of the date indicated:
Non-performing loans by category:
Substandard . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Doubtful . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Non-performing loans by types of banks:
Big Four . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Joint stock commercial banks (1) . . . . . . . . . . . . . . . . . . . . .
Source: China Banking Regulatory Commission
(1) Includes Bank of Communications, Citic Industrial Bank, China Everbright Bank, Hua Xia Bank,
Minsheng Bank, Guangdong Development Bank, Shenzhen Development Bank, China Merchants Bank, Industrial Bank, Shanghai Pudong Development Bank and Evergrowing Bank.
Due to the large amount of non-performing loans in the PRC banking industry, the PRC government has taken various measures to resolve the non-performing loan problem and improve the capital
adequacy levels of PRC banks. In 1999, the PRC government established four asset management
companies to assume and resolve the non-performing loans transferred from the Big Four. In 1999,
the Big Four transferred an aggregate of RMB1.4 trillion in assets to the four asset management
companies. In 2004, CCB, BOC and our Company similarly transferred over RMB330 billion of
non-performing loans to Cinda. In an effort to allow banks as well as regulators to better monitor bank asset quality in accordance with international practice, a five-category classification system was formally
implemented in 2002.
In conjunction with the transfer of these non-performing loans, regulators also employed capital
injection measures to enhance the capital base of commercial banks. In 1998, a total of RMB270
billion was injected into the Big Four. In 2004, another US$45 billion was injected into BOC and CCB for their recapitalization. In 2004, our Company was the recipient of a RMB18 billion capital injection. For
details, see the section headed "Our Reorganization and Restructuring - Financial Restructuring".
Interest Rate Reform
PRC commercial banks set the interest rates of their Renminbi deposits and loans in accordance with the benchmark rates published and modified by the PBOC from time to time. However, the PRC
government has taken gradual measures to liberalize interest rates by widening the band within which
commercial banks may set their Renminbi lending rates around the benchmark rates.
In January 1987, the PBOC for the first time allowed PRC commercial banks to set the interest rates for
Renminbi-denominated lending within a range that is 10% lower to 20% higher than the PBOC
benchmark rate. After incremental changes in the intervening years, on January 1, 2004, the PBOC
further extended the upper limit of Renminbi-denominated lending rates, except for mortgages and
policy loans, to no higher than 70% of the benchmark rate. Subsequently, on October 29, 2004, the
PBOC removed the upper limit for Renminbi-denominated lending rates while retaining the lower limit
for such rates. Effective on the same date, all deposit-taking institutions are now allowed to decrease (but not increase) Renminbi-denominated deposit rates to below the corresponding PBOC benchmark
rates. See the section headed "Supervision and Regulation" for further details.
FOREIGN COMPETITION IN THE PRC BANKING SECTOR
Foreign financial institutions can conduct banking business in the PRC by establishing branches in the PRC, forming joint venture financial institutions with PRC financial institutions, or establishing wholly
foreign-owned financial institutions. According to the Almanac of China’s Finance and Banking, as of
December 31, 2003, the PRC government had given its approval to 64 foreign banks to open 169
branches and sub-branches and to set up 15 wholly foreign-owned commercial banks, joint venture
commercial banks and finance companies in the PRC. As of December 31, 2003, according to the
PBOC, foreign-invested financial institutions accounted for 1.5% of the total assets of financial
institutions in the PRC.
PRC laws and regulations also permit foreign financial institutions to purchase or subscribe for limited equity interests in PRC banks. Currently, a foreign financial institution can purchase or subscribe for up
to 20% of the equity interest in a PRC bank. HSBC, for example, purchased a 19.90% stake in our
Company in August 2004.
Although the scale of foreign banks’ activities in the PRC remains limited by regulatory constraints,
the PRC banking sector has been gradually opening to foreign entities. Upon the PRC’s entry into the WTO, foreign banks were permitted to offer foreign currency-denominated products and services in
the PRC without any geographic or client restrictions. Starting December 11, 2004, foreign banks have been permitted to offer Renminbi-denominated services and products to PRC enterprises in 18 major
cities including, among others, Beijing and Shanghai. At the end of 2006, the PRC banking sector will
be fully opened to foreign banks without any restrictions on business scope or geography. As a result,
competition in the PRC banking sector from foreign banks is expected to intensify.
In addition, the Mainland and Hong Kong Closer Economic Partnership Arrangement, a free trade agreement commonly known as the CEPA, became effective on January 1, 2004. The CEPA enables
smaller Hong Kong banks to enter the PRC banking sector, which we expect will increase the
competition in the PRC banking industry. For example, under the CEPA, commercial banks incorporated in Hong Kong with US$6 billion or more in total assets are qualified to apply for the establishment of
branches in the PRC. By comparison, under the relevant PBOC and CBRC regulations, commercial banks incorporated in other jurisdictions must have US$20 billion or more in total assets to be qualified to
apply for the establishment of branches.
GROWTH IN RETAIL BANKING
Although corporate banking continues to be the main business for most PRC commercial banks,
retail banking products and services have also grown significantly. For example, according to the PBOC, consumer loans outstanding rose from RMB17.2 billion at the end of 1998 to RMB1,573.3 billion at the end of 2003, representing 9.9% of total loans outstanding and 13.5% of GDP. However, the level of
consumer lending in the PRC is still significantly below that in other countries.
Bank Cards
While bank card penetration in the PRC remains low in comparison to developed countries, the bank card business experienced rapid growth in recent years. The total cards outstanding increased from
383 million as of December 31, 2001 to 762 million as of December 31, 2004, according to the PBOC. The growth has also been accompanied by an expansion of the electronic banking terminal network.
Debit cards have been the primary type of bank card in the PRC. As of December 31, 2004, debit
cards outstanding amounted to 663 million. As of the same date, there were 98 million credit cards
issued. The development of the credit card market has so far been limited by a variety of reasons,
including strict regulation on licensing, underdevelopment of a n(本文来自：WwW.xiaOCaofAnweN.Com 小草范文 网:募集说明书英文)ational payment infrastructure and the absence of a nationwide consumer credit information system. However, with an increasing number of
licences for banks to engage in credit card business being issued, the development of China UnionPay and the establishment of a national personal credit database as promoted by the PBOC, the credit card
industry is expected to grow significantly in the future.
Residential Mortgages
Demand for housing in the PRC increased significantly in the 1990s when the PRC government
began its housing reform by eliminating housing benefits for employees of state-owned enterprises and civil servants. As of December 31, 2004, the total outstanding balance of residential mortgages
reached RMB1.6 trillion, approximately 38 times the balance at the end of 1998. Mortgage lending
accounts for a majority of consumer lending by PRC banks. The residential mortgage market has, as a
result, become a significant factor for sustained economic growth in the PRC. Although the PRC
government has adopted measures to tighten its policies on lending to the real estate industry starting in 2003, residential mortgage loans have continued to grow at a rapid pace.
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行业概况
下列资料主要与中国银行业相关。该等资料均来自官方渠道，尽管本银行董事在编撰及重整此等资料时已合理审慎地处理，但未经本银行、董事、承销商或本银行或承销商各自的联属机构或顾问独立核实。此等资料可能与中国国内和国外所编制的其它资料不一致。尤其（但不限于）一些海外市场观察员估计中国的银行系统的不良贷款水平可能比本文引用的数字要高得多。如果该等估计属实，本节所载的中国银行系统的资产水平及其它一些相关资料便可能被高估。
概述
中国的银行市场是全球增长最快的银行市场之一。根据《中国金融年鉴》的资料，从1999年到2004年，存入中国金融机构的人民币总存款从人民币 108,780亿元增至人民币240,530亿元，增长了121.1%，而中国金融机构提供的人民币总贷款则从人民币93,730亿元增至人民币 177,360亿元，增长了89.2%。下表载列从1999年到2004年的中国总人民币贷款、总人民币存款及个人储蓄存款情况：
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中国的银行市场增长主要受惠于经济增长和中国自1978年起推行经济现代化所创造及积累的财富。下表载列中国由1999年到2003年的国内生产总值和人均国内生产总值：
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