On June 16, 2015, ICBC and China State Construction Engineering Corporation Limited (“CSCEC”) signed the e-commerce and online supply chain finance cooperation agreement in Beijing. According to the agreement, both sides will leverage respective professional advantages to build a 100-billion level e-commerce platform of construction and create a new business pattern in the market integrating Internet, construction and finance.

ICBC and CSCEC will build a vertical e-commerce demonstration platform to provide all-inclusive and all-process services for the annual procurements worth over RMB 600 billion of CSCEC and its subsidiaries. ICBC will, while constructing procurement areas and providing data analysis service, provide "One Touch" financing service. It will promptly provide credit line to eligible suppliers and process loan application, sign contract and grant loans via Internet, and the borrower will automatically pay back the loans upon maturity. Meanwhile, as an open platform, while serving CSCEC and its suppliers, the platform will be promoted to other construction companies as well and become the commercial infrastructure of the entire construction sector and a construction e-commerce platform with functions such as online trading and online payment and financing.

Industry insiders pointed out that industry transformation and cross-sector integration have become the major trend in the "Internet Plus" age. ICBC has capitalized on "e-ICBC" to accelerate its business transformation in recent years, and the "One Belt and One Road" strategy has opened up a broad prospect for the construction sector. Therefore, both sides enjoy great opportunities in cooperation. The open construction e-commerce platform established by ICBC and CSCEC has combined construction procurement and supply chain financing through business exchange, resource integration and system connection. It is a major move of both sides' strategic transformation and has created a new pattern for the cooperation between the construction sector and the financial sector.