Earlier, ICBC successfully underwrote one tranche of private placement bonds in national interbank bond market for Beijing Enterprises Group Company Limited. The net proceed of RMB 530 million will be used in the construction of targeted resettlement housing in Xinxian Street, Beijing Huairou's Huairou Town.

Since October, 2011, ICBC has successfully underwritten private-placement bonds to raise RMB 5.43 billion for many Beijing companies (BBMG Corporation, Beijing Municipal Center for Affordable Housing Construction Investment, Zhongguancun Development Group and Beijing Enterprises Group Company Limited) involved in the pilot of the construction of low-income housing. ICBC also provided loans to many key low-income housing projects in Beijing - the affordable housing in Yanshan Cement Factory, Shijingshan District, the capped-price housing in South of Dandianxicun, Dongba, Chaoyang District, the public rental housing in South Area of Beiyuan, Chaoyang District, targeted resettlement housing in Area 5 of Olympic Village, public rental housing for talented people in Su Jiatuo, Mafang New Village and Eco Park. ICBC makes consistent effort to support financially the construction of low-income housing and projects related to improving people's livelihood, while securing its leading market position in underwriting private-placement bonds for low-income housing projects.

Further afield, being the largest underwriter in China in terms of underwriting the highest number of low-income housing projects and underwriting strength, ICBC will provide more funding to support low-income housing projects, said an executive with ICBC. Leveraging its best-quality diversified financial services, ICBC will use different financial tools like bond finance to participate and support the construction of low-income housing, keeping in mind to meet the funding needs of low-income housing projects.