On January 19, the Banking Department of ICBC Jiangsu Branch (hereinafter referred to as “ICBC Nanjing”) held the signing ceremony for housing leasing business. During the ceremony, ICBC Nanjing signed the Strategic Cooperation Agreement on House Leasing with more than 20 members of Nanjing House Leasing Alliance and district-level pilot enterprises. It plans to provide a comprehensive investment and financing quota of RMB500 billion for market participants in Nanjing in the next five years to boost market development, support the demands for rental housing and improve tenants’ livelihood.

Closely following relevant state deployment on the housing system reform in recent years, ICBC has focused on optimizing the housing finance product system, in order to accelerate the establishment of a housing system with multi-agent supply, multi-channel support and rent-purchase dual mechanism. The bank is also committed to providing a full range of financial support for the buildup of a stable and healthy housing market and for meeting people’s reasonable housing demands. Previously, ICBC had cooperated with pilot cities such as Beijing, Guangzhou and Shenzhen to launch key projects that help speed up the development of the house leasing market and the extension of house leasing financial services to other cities.

According to the source, ICBC Nanjing, after this signing ceremony, will speed up the construction of a financial service system covering rental service side, supply side and demand side, and support the sustainable and healthy development of the house leasing market in an all-round way. For the leasing service side, ICBC Nanjing will connect with Nanjing House Leasing Information Service Platform through three platforms, namely “ICBC Mall”, “ICBC Link” and “ICBC Mobile”, to better share information and provide supporting financial services and amenities for the supply side and demand side.

For the supply side, ICBC Nanjing will provide commercial house leasing financing, fixed-asset financing, asset securitization and other financing services for house leasing projects, offer leasing companies with financing services closely related to the complete and closed business chain of “development and construction -- investment and incubation -- holding operations -- mature asset securitization and exit”, and introduce customized cash management services at the same time. For the demand side, ICBC Nanjing will initiate a variety of rental payment programs and supporting financial services to ensure that all tenants could have a home.