CCB Spokesman Talks about the CTS Anomaly of November 5th

Recently, a CCB spokesman gave an interview on the November 5th internet traffic congestion caused by technical problems in its Custody Transfer System (CTS) for handling shareholders guaranty money.

According to the spokesman, at 0940h in the morning of November 5th, due to technical problems in CCB’s CTS system, there was anomaly in internet connections with securities companies and, consequently, transfer of customer funds was seriously affected.  This incident was taken seriously by CCB.  Its contingency plan was triggered, a task force was quickly organised to look into the cause of the incident and timely measures were adopted to eliminate the failure.  As a result, successive connection with securities companies began at around 1100h and, by 1330h, normality was resumed.  As a result of this system failure, inconveniences and consequences in handling related business were incurred by CCB customers.  For this, CCB was deeply regretful.  Currently, further corrective actions are being taken to optimise the CTS system so as to ensure its secured and reliable operation and to provide customers with quality services.

The spokesman said that, since its share reform and listing, CCB has adopted a “market orientated and customer focussed” operating concept.  Therefore the whole company has been actively adapting itself to market changes and customer needs.  In particular, in response to the dramatic increase in demand for financial services brought about by rapid development of the securities market beginning last year, CCB has been speeding up the pace of constructing service channels and pushing the transformation of its retail outlets.  In addition, it has adopted numerous measures with the aim of providing better and better services to its customers through service quality and efficiency improvements.  Mindful of this incident, CCB will further analyse, learn about and improve on problems and deficiencies found in its operations and management so as to enhance customer service standards and work efficiencies.