Miao Jianmin, China Merchants Bank: The true moat of China Merchants Bank is internalizing the concept of "customer-centricity" into corporate culture.

At the 2025 performance release conference of China Merchants Bank, Chairman Ma Jianmin answered questions from Securities Times reporters. He said that the real "moat" of China Merchants Bank is to internalize the concept of "customer-centric" into corporate culture and transform it into the daily behavior of employees. "Whether it is philosophy, management, or technology, it is all driven by people. Without such culture, cohesion, and professionalism, the 'moat' will gradually collapse."