In recent years, ICBC has been focused on structural reform of supply side to develop direct financing businesses such as bond underwriting and issuance, which has not only further broadened financing channels of real economy enterprises, but also reduced financing cost. Statistics show that in 2016 the total amount of domestic and foreign bonds undertaken by ICBC exceeded RMB 1.5 trillion for the first time, making ICBC No.1 in the market for the tenth consecutive year. As the lead manager ICBC undertook 1,281 domestic debt financing instruments worth RMB 1.45 trillion.

According to an official with ICBC, the types of bonds undertaken by the Bank has covered short-term financing bonds, medium-term notes, ultra and short-term commercial papers, non-directional debt financing instruments, perpetual bonds, local government bonds and financial bonds, asset-backed securities and other major types in the market. Last year, ICBC adhered to the concept of “green development” and “green finance” by financing green projects such as energy conservation and environmental protection, pollution prevention, resource conservation and recycling through direct financing like bond underwriting. The Bank issued RMB 88.3 billion green bonds, ranking first among banking institutions. ICBC undertook several ground-breaking deals including the first commercial bank green financial bond project, the first RMB green bond for international development institution, and the first green corporate bond in China.

In addition, ICBC has also been committed to innovations in bond underwriting business. Last year, as the lead manager ICBC undertook a number of securitization projects including Hangzhou and Huzhou’s provident housing fund loans asset-backed securitization projects (first in China), becoming the lead manager with the most extensive types and the largest scale. ICBC has also launched panda bonds and SDR bond underwriting business. ICBC’s customer base expanded to international multilateral institutions, overseas financial institutions and corporate customers, issuing 11 bonds worth RMB 27.68 billion for nine customers, securing a market share of 55%. As the lead manager and bookrunner, ICBC issued the RMB 500 million SDR denominated bonds for the World Bank, representing the world’s first SDR-denominated bond issued in the form of public offering.