In 2015, ICBC Singapore RMB Clearing Bank completed clearing volume of RMB60.4 trillion in the full year, up nearly RMB23 trillion or 61% year on year. Within just two and a half years from its opening in 2013 to the end of 2015, Singapore RMB Clearing Bank saw accumulative clearing volume exceed RMB100 trillion with the number of clearing accounts of the participating banks reaching 113 and its clearing services directly covering 42 countries and regions.

In 2015, Singapore RMB Clearing Bank constantly enhanced its clearing service capability. It launched round-the-clock RMB clearing services, established Singapore as the cornerstone of ICBC’s RMB clearing network, which spans three time zones across Asia, Europe and the Americas, the world’s longest period of service availability. It was also one of the pioneer batch of participating banks in the Cross-border Interbank Payment System (CIPS) to handle the first clearing business via CIPS in Asia. It further broadened the liquidity support channels and became the first bank outside of China to carry out bond repurchase transaction in the onshore interbank market and handled the first offshore RMB bond repurchase transaction in Singapore.