ICBC has been approved as the settlement bank for “Shenzhen-Hong Kong Stock Connect” and Southbound Link to conduct cross-border fund settlement and swap businesses related to Southbound Link of Shenzhen-Hong Kong Stock Connect. The Bank now has settlement bank qualifications for Southbound Link of both Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, as well as local Hong Kong stock settlement bank qualification by its subsidiary in Hong Kong, ICBC (Asia), from Hong Kong Exchanges and Clearing Limited. ICBC has comprehensively participated in businesses in securities markets of Hong Kong and mainland China, which laid a solid foundation for further participation in the global capital market.

An official with ICBC said that as an important part of interconnection between stock markets of mainland China and Hong Kong, Shenzhen-Hong Kong Stock Connect will help strengthen ties between two capital markets and expand channels for investors in mainland China and Hong Kong. To better serve Shenzhen-Hong Kong Stock Connect, ICBC has developed a full-suite settlement plan covering cross-border fund settlement for Southbound Link, RMB-HKD exchange, account settlement & overdraft, risk management system and emergency response plan.

As one of China’s first commercial banks participating in securities market fund settlement, ICBC has provided market participants with efficient and safe securities fund settlement service for years, with market leadership in terms of settlement scale. Currently it is one of China’s largest capital market clearing banks.