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Bank of Qingdao’s Guo: Corporate governance plays a vital role in banks’ development

Guo Shaoquan, chairman of Bank of Qingdao, speaks about the importance of corporate governance in banks, the local economy and development in rural areas in Shandong, China.

February 19, 2020 | Emmanuel Daniel

Guo Shaoquan has been Bank of Qingdao chairman since December 2016 and has been the bank’s executive chairman of the board since 2010. From December 1980 to April 2000, he worked at the Qingdao branch of China Construction Bank. He also worked at China Merchants Bank from April 2000 to November 2009, successively as head of the Qingdao branch and head of the Tianjin branch.

In this conversation, Guo Shaoquan shares his vision for the bank and the strategies applied to improve their services. He also talks about the important role played by corporate governance for Bank of Qingdao’s growth along with the green development initiatives supported by their institution.


Emmanuel Daniel (ED): I would like to understand a little bit more about how you are leading the Bank of Qingdao and the role it plays in the economy of Shandong province.

Guo Shaoquan (GS): Thank you for coming to Bank of Qingdao, and you are welcome to visit Bank of Qingdao more often.

I agree with you that wealth does not depend on how much money an individual has, but more importantly, how much good that net worth does for society – that is very important. But some people just want to see how much wealth they have and how high net worth they are.

Bank of Qingdao is a local commercial bank, and its scale, in terms of capital and assets, is not very high in China. I personally want to help turn Bank of Qingdao into a distinctive bank. To do that, we should first have a clear mind in our strategy – a vision.

In my many years of experience as a banker, I have found that running a distinctive bank is a product of continuous exploration as well as hard work. We have to work with professional individuals who are capable and who share the same vision in order to succeed. Take for instance, our young vice president Liu Peng, who was born in the 1980s and Secretary LV Lan from the Office of th...

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