Recently, Industrial and Commercial Bank of China (“ICBC”) successfully issued multi-currency “Carbon Neutrality” themed overseas green bonds. This is a pragmatic measure taken by the Bank to deeply serve China’s high-level opening-up and promote green development. All underwriters of this issuance are members of the Belt and Road Bankers Roundtable (“BRBR”). Through the issuance, ICBC has joined hands with Chinese and foreign partners of the BRBR to provide robust financial support for the development of Belt and Road countries and regions.

It is introduced that these bonds are listed across the stock exchanges in Hong Kong, Singapore and Dubai, including three types, i.e., 3-year USD floating-rate bonds, 3-year USD fixed-rate bonds and 3-year CNH fixed-rate bonds. The proceeds will be dedicated to high-efficiency green and low-carbon projects such as clean transportation and renewable energy. This issuance has won high recognition from the market, with the bonds subscribed by various investors. The issuance size is equivalent to USD1.72 billion. This has demonstrated ICBC’s sound image and market influence in the international capital market.

Relying on the advantages of its global business presence, the Bank has widely engaged in international cooperation, actively promoted green finance, and maintained a leading position in the scale and growth of green loans as well as the issuance volume of green bonds. In terms of international cooperation, ICBC took the lead in establishing the BRBR in 2017, building it into a reciprocal cooperation platform for serving the high-quality Belt and Road cooperation. So far, the BRBR has covered 185 member and observer institutions in 75 countries and regions.