ICBC has successfully led the issuance of the fourth-tranche railway construction bond of China Railway Corporation worth RMB20 billion, becoming the first commercial bank in China to lead issuance of railway construction bonds as the lead underwriter.

The issuance of railway construction bonds has two characteristics. Firstly, the commercial bank is employed as the lead underwriter for the first time, which increases the types of underwriters of railway construction bonds. Based on rich experience in underwriting and strong product innovation, ICBC was qualified to be the lead manager of the issuance as the first commercial bank. The Banks has also actively sought outside investors based on its strong distributions to ensure successful issuance of the railway construction bonds. Secondly, it is the second issuance of 30-year railway construction bonds by China Railway Corporation after a decade, which meets the issuer's ultra-long-term funding needs and diversified the maturity structure of railway construction bonds.

In recent years, ICBC has endeavored to develop bond underwriting business by focusing on the financing needs of real economy, which has not only broadened the financing channels for enterprises, but also controlled the cost of financing. By the end of 2015, ICBC issued bonds worth more than RMB3.3 trillion as the lead manager, leading market in terms of bond scale and variety.