Bank of China Awarded Best HR Strategy in Line with Business

On November 21, Bank of China spokesman Wang Zhaowen briefed the press on the Bank s winning the award Best HR Strategy in Line with Business in Mainland China . Elected by the Hong Kong-based China STAFF, the Best HR Strategy in Line with Business for 2005 was announced, and Bank of China was the winner.

The award was the highest honor for human resources management in the Greater China region. It was the first time that a state-owned and state-holding enterprise had ever won this special honor. It was also a full recognition of the achievements of the human resources management reform by Bank of China.

Wang Zhaowen said the China STAFF award, which began in Hong Kong in 1988 was in its eighth year and this was the third time since the award began covering Mainland China. The award was designed to raise public awareness of the importance of human resources which is a key element to corporate success. The award is also aimed to commend institutions or individuals who were devoted to the development of human resources management and therefore were recognized by the market.

China STAFF was the only bilingual publication in Mainland China and Hong Kong, devoted to the management of human resources. Nominations for the 2005 award began in July and caught great market attention. The winners were selected from more than 500 institutions or individuals engaged in human resources management and services across the country.

He said that with the changes in market environment, human resources had increasingly become the primary resources and core competitiveness of the enterprises and therefore human resources management had become more and more important in corporate management. In Bank of China s joint-stock reform, the reform on human resources management was a significant change of great complexity and difficulty.

Currently, Bank of China s reform and mechanism building on human resources management was in a crucial moment. The Bank was actively pushing forward the reforms in the areas of appointment, remuneration management, performance management and follow-up reforms. Phasic progress had been made. He said that before winning the Best HR Strategy in Line with Business, Bank of China had already won the award 2005 Best Employer for University Students for financial category jointly held by a number of medias such as the ChinaHR.

com, the Sina.com financial channel, the Economic Observer newspaper, the Huaxia Jishi Management Consulting Group. These awards indicated that the people-oriented core concept adopted in the reform of Bank of China s human resources management, had won extensive recognition from both inside and outside the Bank.