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ICBC Singapore Branch Successfully Issues Many Cross-border Loans under Macro Prudential Management Policy

Recently, ICBC Singapore Branch has cooperated with Suzhou Branch, Chongqing Branch and Fujian Branch to issue loans to customers in Suzhou city, of the China-Singapore (Chongqing) project, and in Fujian Pilot Free Trade Zone Fuzhou area, marking the first cross-border direct loans. The implementation of the cross-border direct loan successfully helped the domestic enterprises to use overseas resources and realize the convenience in the cross-border financing. It was an important measure taken by the Branch to support the country's "One Belt and One Road" strategy and financial reform and innovation.

Earlier, Singapore Branch had already cooperated with the domestic branches to successfully issue the first cross-border loan in the Shanghai FTZ and the first cross-border loan in the Suzhou Industrial Park.