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Investment Custody Business of Overseas Institutions in the Inter-Bank Market

I. Product Overview
Pursuant to the Announcement on Affairs Concerning Properly Handling Investment of Overseas Institutional Investors in the Inter-Bank Bond Market (No. 3 announcement of the People's Bank of China in 2016), financial institutions including commercial banks, insurance firms, securities firms, fund management companies and other asset management institutions that are legally registered and established outside the territory of the People's Republic of China, investment products issued by the abovementioned institutions to customers in accordance with laws, as well as other medium to long-term investors recognized by the People's Bank of China (PBOC) such as pension funds, charity funds, donation funds etc. can invest in China's inter-bank market.

II. Target Customers
Financial institutions which are registered and established outside the People's Republic of China, such as commercial banks, insurance companies, security companies, fund management companies and other asset management institutions, investment products legally issued to customers by financial institutions listed above, and other medium- and long-term investors that are recognized by PBOC, such as pension fund, charity fund and donation fund.

III. Scope of Services
1. Agency service: handle registration of qualifications and quota, and carry out settlement in the inter-bank market on behalf of customers;
2. Account opening: open fund account, securities account and other relevant accounts for overseas customers in accordance with requirement of the regulatory authorities;
3. Asset custody: set independent accounts for different overseas customers, keep the account independently, make sure the account balance match with vouchers, and guarantee the integrity and independence of fund assets;
4. Fund transfer: timely handle clearing and delivery of fund assets in accordance with investment instructions issued by the fund managers;
5. Investment supervision: supervise whether instructions and investment operation of the fund managers are compliant according to laws and regulations and requirements of the customers;
6. Accounting: carry out fund accounting, check and review net asset value of fund assets calculated by the fund managers;
7. Foreign exchange translation: exchange currencies, and settle/sell foreign exchanges;
8. Custody report: provide fund custody and accounting reports to the fund investors and regulatory authorities on a regular basis;
9. Record keeping: keep record, accounts, statements and other materials relevant to the overseas customers' custody business for at least 15 years in accordance with the government regulations.

IV. Advantages
As the largest custodian bank in China, ICBC has maintained its leading position in the market for 19 consecutive years in terms of market share of asset custody business.
It is also the most professional custodian bank in China, with an advanced custody service system independently developed by it. The system has obtained ISAE3402 authentication (formerly known as SAS70), the first one of its kind in China, indicating that ICBC’s custody services have met international standards.
ICBC, the most powerful domestic commercial bank, owns a fast clearing network, abundant RMB funds and strong A share settlement capability, hence it can provide overseas customers with efficient and comprehensive service support.

V. Contact Information
If you would like to apply for any service, please contact the Global Asset Custody Division of Asset Custody Department of ICBC:
Liaison: Jia Wenhui, Chang Yue, Fan Mei, Feng Peini, Sun Yang, Wang Qiu, Wang Zhongwei
Tel.: (8610)66105757/5756/5700/5753/5754/5755/81013751
Fax: (8610)66105753
E-MAIL: wenhui.jia@icbc.com.cn