News Column

ICBC Boosts Bond Financing to Support Real Economy

July 10, 2014

ENP Newswire - 10 July 2014

Release date- 09072014 - In recent years, ICBC has actively developed bond underwriting and issue business in responding to demands of the real economy, which has provided funding support to the real economy and effectively reduced financing cost.

According to statistics, over the first half of 2014, ICBC has already underwritten and issued nearly RMB 400 billion worth of various bonds, providing strong financial support to sectors including national key projects, projects for public interest as well as small and micro enterprises.

With accelerating economic transformation and deepening financial reform, the real economy shows rapidly growing demand for bond financing. Therefore, ICBC developed a series of innovative products including fixed interest rate, floating interest rate, embedded option, product segmentation and credit enhancement to facilitate the growth of key sectors in the real economy, such as national key projects, projects related to public interest as well as small and micro enterprises. Such innovative products cover all types of bond permitted by state policy, including the ultra-short-term commercial paper, short-term commercial paper, mid-term note, private placement note, and M&A bond, offering comprehensive bond financing services for various entities engaging in the real economy.

In addition, by underwritten and issued collective notes for small and medium enterprises (SMEs) in recent years, ICBC has provided bond financing services for a number of SMEs in Minhang and Qingpu in Shanghai and Dazhou in Sichuan. ICBC has actively underwritten and issued financial bonds of small and medium commercial banks which were exclusively used for small and micro enterprise lending, providing funding support for such enterprises in various manners.

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Source: ENP Newswire

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