ICBC recently launched the global cash management service, which is the first of its type in the banking industry in China. Through the global cash management service system of which ICBC owns the intellectual property right, the service can adequately satisfy the demand of multinational companies to allocate their capital both at home and abroad and to coordinate the management of their global accounts. According to industry insiders, at the background of the continuous deepening of economic globalization and the emergence of a batch of vigorous multinational companies in China, ICBC's cash management service will provide these "Go-Global" Chinese multinational companies with strong support to guarantee the safety of their overseas capital operation and to improve the efficiency of their capital globally.

It is introduced that the ICBC global cash management service breaks through the boundaries of country and bank, and extends the bank's domestic business advantages and advanced service experiences to other countries. Through its global network of branches and agencies as well as the cooperation with foreign banks, ICBC provides the multinational companies with the "One-Stop" cash management, which contains the secure and convenient services of global account information management, money collection and payment management, risk management, etc. The service enables ICBC to assist its clients in timely and accurately obtaining the domestic and overseas capital information, consolidating their allocation of domestic and overseas capital, managing their global accounts, and ultimately, meeting clients demand for the cross-border, inter-bank, multi-currency intensive management of capital and the elusion from the risks of multinational business.

According to the ICBC official who is responsible, the ICBC global cash management service relies on the bank's own global cash management service system that was developed with heavy investment. By combining the system with the currently most advanced internet banking technology, it is able to offer highly personalized services of cash management in RMB and foreign currencies. The system provides multiple of bank-enterprise interaction, and can realize the collection, distribution, integration and counting of clients' cash management service information through the standardized data interface of client and bank, so as to maintain the payment balance and information management for clients' all accounts in different domestic and overseas banks. Moreover, the global cash management system can provide all-channel and standardized product application service for all types of accounts that clients open at ICBC and its cooperating banks as well as for the multiple-channel links among clients, ICBC and its cooperation banks. Via the system, enterprises can conduct cross-border and inter-bank capital management, easily enjoy the globally integrated capital management service, realize the goal of enterprise financial management, and effectively enhance enterprises' management standard.

"We have apparent advantage in China, since we have been maintaining the market status as China's largest cash management bank. By the beginning of this year, the ICBC cash management business was in possession of 130 thousand corporate clients, many of which were the Fortune 500 multinational companies. The quality of client basis reflects the service quality of ICBC as a cash management bank", points out by the ICBC official. Meanwhile, the bank's vigorous global service network also provides strong auspice to effectively manage the cross-border cash management. So far, ICBC has established 134 branches in 15 countries and regions, as well as the agency bank relation with 1358 foreign banks in 122 countries and regions. Besides, ICBC also focuses on the improvement of the content and principle of its cash management service, gradually realizing the transition from capital management to comprehensive financing, and from single client to supply chain finance. As a result of all the efforts, ICBC stays as the industry leader in China in terms of the service standard of cash management business, and it has been awarded "Best Cash Management Bank in China" by Asset, Finance Asia and other internationally renowned media for three consecutive years.

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Introduction of Main Services of ICBC Global Cash Management

Cash management is a comprehensive financial service that a bank provides to help corporate clients to more effectively use and manage their bank accounts. In detail, the bank makes an entire package of its existing financial products and services, including money collection and payment, account management, information and consulting service, investment and financing, etc. In this way, the bank can provide different types of clients with a cash management plan that caters to their personalized demands, so as to help clients achieve more reasonable capital flow, more realizable financial supervision, and to improve the capital turnover and efficiency.

1. Account Management

By making use of the account management function of the global cash management system, clients can control effectively the structural relation and account payment amount of their ICBC settlement accounts. Meanwhile, with the support of ICBC's cooperating banks, multinational enterprises who own accounts in the domestic and overseas cooperating banks of ICBC can also inquire the account information in global bank branches, and timely manage its global capital changes within the corporation. Besides, clients can choose the objects of money collection and payment of their active control accounts, hence realizing the separate management of money collection and payment and meeting the demand for personalized financial management.

2. Integrate Money Collection and Payment

Integrate Money Collection and Payment enables clients to utilize multiple to submit instructions of money collection and payment to ICBC, after which the instructions are divided into ICBC instruction and cooperating bank instruction. The former will be processed timely while the latter will be quickly forwarded to the cooperating banks for processing, and ICBC will provide clients with all the results. The service of Integrate Money Collection and Payment relies on ICBC's strong payment settlement system to provide clients with the "One-Stop" settlement service, simplify the procedure of money collection and payment management, coordinate the management of multi-bank money collection and payment, effectively control and decrease risks, and guarantee capital security and timely settlement.

3. RMB and Foreign Currencies Capital Pool

The RMB and Foreign Currencies Capital Pool is one of the core functions of the ICBC global cash management system, as well as the major instrument to realize the automatic deployment of capital among the enterprises within a corporation. The collective capital allocation among the accounts of the capital pool can help realize the integrate management and sharing of the internal capital of an enterprise, lower capital cost and increase capital returns, thus meeting the corporations' demand for intensive management of finance and asset.

4. Comprehensive Account Report

For clients who are in high need of comprehensive bank products, the global cash management system provides a comprehensive account report to meet clients' demand for the all-dimensional account information. Through the comprehensive account report, clients can learn details about its asset in ICBC, including deposit, loan, bond, and fund, as well as the occurrence amount and balance of deposit and loan as well as basic account information in the cooperating banks. Clients can also customize the report circle and obtain the report through e-banking or at the counter. In this way, ICBC provides corporations with all-round and reliable information source for the latter's reference of financial management decision-making.