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ICBC Provided RMB1.3 trillion Bond Financing for the Real Economy Last year
 

In 2017, ICBC, under the guidance of pushing forward supply-side structural reforms, actively sought to meet financing needs of the real economy through direct financing activities such as underwriting of bonds, and to help enterprises in the real economy expand their financing channels and reduce financing costs. Data showed that ICBC underwrote a total amount of approximately RMB1.3 trillion of domestic and overseas bonds in 2017, still ranking first in size. Among these, over 1,200 debt financing instruments ICBC underwrote as the lead underwriter were domestic debts.

Sources from ICBC said that the bank, during its bond underwriting and issuance process, gave full play to its advantages in market research, product innovation and multi-level sales channels to support the construction of national key projects, livelihood projects, projects related to small and micro enterprises, targeted poverty alleviation, eco-environmental protection and other key areas of the real economy. For example, ICBC has launched CDB’s first OTC bond for poverty alleviation. The funds raised are all used for 18 poverty alleviation and relocation loan projects in eight provinces (autonomous regions), namely Inner Mongolia, Anhui, Henan, Hubei, Guangxi, Guizhou, Shaanxi and Gansu, covering about 650,000 filed poverty-stricken people. CDB’s first green OTC bond issued by ICBC is for the water and eco-environmental protection of the Yangtze River economic belt, and the funds raised are used to support three pollution prevention and control projects of Hubei Province, including the water and environmental protection of the Han River in Xiangyang City, the comprehensive water and ecological management of the Laohuan River in Xiaogan and the comprehensive water and environmental management of the Zhupi River basin in Jingmen.

In addition, ICBC also made great efforts to enhance innovative bond underwriting business and continuously broadened the scope and depth of its services. The Bank made innovative efforts in underwriting Panda bonds and SDR bonds. For example, ICBC spearheaded and served as the bookrunner for the first batch of medium-term notes of China Merchants Port in 2017, which was also the first medium-term Panda bond featured “Belt and Road” construction at home, raising RMB2.5 billion for the first tranche. In addition, ICBC took part in the first “Bond Connect” business and completed the issuance of 9 projects, including CDB’s offering of financial bond via “Bond Connect”, 17 China Unicom SCP004BC and 17 China Huaneng Group SCP002BC, with their value amounting to more than RMB30 billion.


(2018-02-07)
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