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ICBC Takes Advantage of Bond Service, Supporting COVID-19 Prevention and Control, Work Resumption
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In order to reinforce the prevention and control of the novel coronavirus disease (COVID-19) and better serve economic and social development, Industrial and Commercial Bank of China has been taking advantage of its bond service to open green channel, providing funding support for work resumption and the battle against COVID-19. In February, ICBC raised over RMB 23 billion by underwriting bond issuance for companies involving in fighting against COVID-19, and invested more than RMB 18 billion in this respective.

To serve enterprises participating in the fight against the COVID-19, ICBC communicated with traders associations soon after the outbreak of the epidemic, meeting enterprises’ demands, improving its bond issuance procedure, and speeding up its working efficiency. As the sole underwriter of Jointown Pharmaceutical Group, Hubei Xingfa Chemicals Group, SF Express and so on, and one of the major investors of, etc., the bank made unremitting efforts in supporting the production, logistics and transportation of medical materials that are crucial to win the war against the epidemic.

To boost work resumption, ICBC responded quickly to the bond financing demands, invested on local government debt in Hubei and other provinces, and shored up the construction in public health care, education, road and other livelihood fields, offering funding support to work resumption.

In addition, the bank also took its advantages on channel and service into full play, quickly raising money to support the prevention and control of the epidemic by means of distributing China Development Bank’s COVID-19-themed bonds through its wide counters.

(中国工商银行 2020-03-11)