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  Home Page > Corporate Banking >Assets Custody Business >Investment Custody Business of Overseas Institutions in the Inter-Bank Market
Investment Custody Business of Overseas Institutions in the Inter-Bank Market
 

I. Business Overview
Pursuant to the Announcement on Affairs Concerning Properly Handling Investment of Overseas Institutional Investors in the Inter-Bank Bond Market (No.3 announcement of the People's Bank of China in 2016), financial institutions including commercial banks, insurance firms, securities firms, fund management companies and other asset management institutions that are legally registered and established outside the territory of the People's Republic of China, investment products issued by the abovementioned institutions to customers in accordance with laws, as well as other medium to long-term investors recognized by the People's Bank of China such as pension funds, charity funds, donation funds etc. can invest in China's inter-bank market.

II. Targeted Customers
Financial institutions including commercial banks, insurance firms, securities firms, fund management companies and other asset management institutions that are legally registered and established outside the territory of the People's Republic of China, investment products issued by the abovementioned institutions to customers in accordance with laws, as well as other medium to long-term investors recognized by the People's Bank of China such as pension funds, charity funds, donation funds etc.

III. Scope of services
1. Agency service: handle registration of qualifications and quota, and carry out settlement in the inter-bank market on behalf of customers;
2. Account opening: open fund account, securities account and other relevant accounts for overseas customers in accordance with requirement of the regulatory authorities;
3. Asset custody: set independent accounts for different overseas customers, keep the account independently, make sure the account balance match with vouchers, and guarantee the integrity and independence of fund assets;
4. Fund transfer: timely handle clearing and delivery of fund assets in accordance with investment instructions issued by the fund managers;
5. Investment supervision: supervise whether instructions and investment operation of the fund managers are compliant according to laws/regulations and requirements of the customers;
6. Accounting: carry out fund accounting, check and review net asset value of fund assets calculated by the fund managers;
7. Foreign exchange translation: exchange currencies, and settle/sell foreign exchanges;
8. Custody report: provide fund custody and accounting reports to the fund investors and regulatory authorities on a regular basis;
9. Record keeping: keep record, accounts, statements and other materials relevant to the overseas customers' custody business for at least 15 years in accordance with the government regulations.

IV. Advantages
ICBC is the largest custodian bank in China, and has kept the largest market share by assets under custody for 18 successive years.
ICBC is the most professional custodian bank in China and has a proprietary advanced custody business system. It is also the first Chinese bank that passed certification of the ISAE3402 (the former SAS70) standards, and its custody service meets the international standard requirements.
ICBC has the strongest business strength among Chinese commercial banks. It boasts an expedite clearing network, ample RMB funds and strong A-share settlement capability, and is able to provide efficient and comprehensive services to overseas customers.

V. Contact methods
Please contact the Global Asset Custody Division of the Asset Custody Department of ICBC to handle relevant business:
Contacts: Jia Wenhui, Chang Yue, Fan Mei, Hao Gang, Feng Peini, Wang Zhongwei
Tel: (8610)66105757/5756/5700/5754/5755//81013751
Fax: (8610)66105753
E-MAIL: wenhui.jia@icbc.com.cn


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