The integration of CIB during the year presented some unique challenges to personnel in charge of the Bank's staff development. Different skill sets, a wider audience, and a larger work force required that the Bank find new ways to extend its training scope, as well as ways in which to leverage the best of everyone's skills for the betterment of the Bank.

The efforts made by the Bank's team, however, appear to have worked successfully in this combination. By retaining the staff with the appropriate regional and local talents, CDB has in place a team that understands the local and regional issues of each project and the mission and objectives of the Bank's function. Results have been evident in the degree of project management and individual achievement accomplished throughout the Bank, and regular oversight by corporate management ensures that these skills are effectively utilized throughout the Bank.

The significant efforts made in training and developing its staff have encou-raged Bank management to review the methods in which it compensates and rewards its people. Retaining qualified staff in the Bank is of utmost importance to the Bank's development and continued success. One significant step in retaining these individuals is to compensate them on a competitive level, and in a manner that their efforts are identified and rewarded by management. The Bank is considering a number of internationally accepted methods to accomplish these objectives, including incentive pay-based systems and bonus programs, each of which must be designed with consideration of the Chinese competitive market environment in mind.

The best training in the world is of no use unless the people trained can apply it. Our success is largely dependent on our staff's abilities to apply what they learn, and we would like to acknowledge the effort of all of the men and women at China Development Bank, who have worked with energy and success for the concerns of the Bank. Their achievements have made an important contribution to the promotion of the Chinese economy.