Manufacturing is the main body of the national economy, the foundation of a country, the approach to rejuvenate a country, and the base of a powerful country. Since the unveiling of “Made in China 2025”, Industrial and Commercial Bank of China (ICBC) has accelerated the transformation from “Made in China” to “Created in China” by striving to promote the transformation and upgrading of the manufacturing industry and strengthening support to key areas such as next-generation information technology, high-end equipment and new materials..As of the end of March this year, ICBC’s outstanding loan to advanced manufacturing has exceeded RMB 350 billion, up by 8.23% over the end of last year, becoming one of the fastest growing areas of corporate loans.

To better adapt to financial services needs arising from the innovation-driven development of advanced manufacturing industry, ICBC,has actively developed financial consulting, bond underwriting, debt restructuring, leasing+factoring, financial investment, industry funds and other diversified financial services, providing whole-product, multi-channel financial services to advanced manufacturing industry. For example, in June 2016 ICBC participated in the founding of the first national industrial investment fund “National Advanced Manufacturing Fund”. Led by the National Development and Reform Commission, the total size of the fund reached RMB 20 billion, which was aimed to meet the equity funds demand of advanced manufacturing enterprises. ICBC also strengthened the bond underwriting to key sectors related to Made in China 2025. In 2016 ICBC underwrote and issued 38 bonds for 29 enterprises of aerospace equipment, new energy vehicles and other top ten sectors, with underwriting amount reaching RMB 33.84 billion, including the first green bond for Beiqi co., the loan letter of intent with an amount of RMB 100 billion or equivalent foreign currency for the wide body aircraft development project of China Commercial Aircraft Co., Ltd., and the RMB 44 billion syndicate for the world’s largest coal olefins project—Zhongtian Joint Venture Energy Co., Ltd.’s Erdos coal deep processing demonstration project.

In supporting the advanced manufacturing industry to go global, ICBC has backed Chinese advanced manufacturing enterprises to enhance international cooperation, promote the internationalization of key industries, and strengthen international competitiveness. As of the end of March this year, ICBC supported 55 g-global projects in the advanced manufacturing industry, with total loan amount of USD 12.2 billion. With 89 reserve projects, its total investment is expected to be USD 37.345 billion, involving energy conservation and environmental protection, new generation of information technology, high-end equipment manufacturing and other key areas. For example, ICBC allocated EUR 5 billion M/A financing for the Midea Group’s tender offer to acquire the world’s leading robot manufacturing company, German KUKA Group; and EUR 116 million financing funds for Aviation Industry Corporation of China’s acquisition of Aritax, a Spanish automation company.