CCB staff could acquire their company's shares!!!

CCB staff could acquire their company's shares!!!
Jul 10, 2007 21:34
ZOEY Points: Join Date: Nov 29, 2004 Status: offline	After returning to A share market, CCB (China Construction Bank) made another surprising move. The staff of CCB can buy their own company's shares. From July 6th, about 270,000 staff can acquire about 0.8 billion shares. Each person can aquire 2963 shares and gain about 6607 RMB on average. People hold different opinions on this. The official of CCB says that they want to encourage their staff in this way and hope the staff can work for CCB for long time. However, some staff do not think so. Most of the beneficiaries are the managers, not the ordinary staff. Is this a good news or bad news?

Jul 10, 2007 21:34

ZOEY
Points:
Join Date: Nov 29, 2004
Status: offline

After returning to A share market, CCB (China Construction Bank) made another surprising move. The staff of CCB can buy their own company's shares. From July 6th, about 270,000 staff can acquire about 0.8 billion shares. Each person can aquire 2963 shares and gain about 6607 RMB on average.

People hold different opinions on this. The official of CCB says that they want to encourage their staff in this way and hope the staff can work for CCB for long time. However, some staff do not think so. Most of the beneficiaries are the managers, not the ordinary staff.

Is this a good news or bad news?

Jul 11, 2007 01:13

JOHNNY512
Points:
Join Date: Nov 29, 2004
Status: Offline

CCB's intention is good. But whether this move can bring good results is still a question. In the western countries, to give some shares to its staff is a useful way to encourage them work harder and make more profits. It seems that the state-owned banks in China can not just copy this way. They should create their own effective ways to attract their staff stay at their bank.

Actually Chinese banks have scored some achievements in the reform. However, those achievements were gained with the help of the preferential policies from the government. The banks in China should find the outlets by themselves, not just rely on the government.

Jul 11, 2007 19:59	#2
YVONNE Points: Join Date: Nov 29, 2004 Status: Offline	CCB's intention is to promote the morale of the staff and want to pursue a bigger development.Since China's entry into the WTO, the banking industry face a fierce competition from the overseas financial organizations. Improving the work efficiency and the quality of service is a key to success.

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