As of the end of 2016, ICBC has provided a financing balance of over RMB 240 billion to the culture industry. The average increase of loans to the culture and tourism industry in recent three years has exceeded 30% and the loan balance doubled in five years, making the industry one of the fastest growing market segments in the Bank’s loan business. ICBC has now become the commercial bank with largest financing balance to the culture industry in China.

According to an official with ICBC, the Bank has in recent years been expanding the culture industry as an emerging segment, and driven the innovative integration of “culture + finance”, which boosts the healthy development of the culture industry and the upgrade of culture consumption of rural and urban residents. ICBC has been focused on scenic spots, providing funds to over 500 famous scenic spots including OCT Happy Valley, Zhejiang Xixi Wetland, Guangzhou Changlong, Jilin Changbai Mountain, Nanjing Qixia Mountain, Dujiangyan Qingcheng Mountain, Shandong Yimeng Mountain and Guizhou Huangguoshu.

In response to the extensive and varied demand of culture enterprises for financial services, ICBC has used various methods such as investment banking, debt financing, leasing and asset securitization to launch various featured services and quality culture products that cover a wide range of culture enterprises. Among them are financing backed by integrated charging right, financing backed by scenic spot ticket charging right and ticket income asset-backed security business for cultural tourism scenic spots, collective lending for multiple movies and TV/movie account receivable factoring for production of movie and television serials, as well as equity+ creditor’s rights integrated financing for M&As in the industry. For example, ICBC led a syndicated loan to support building of Nanjing’s Laomendong into a name card for Nanjing’s history and culture, provided financing support to a number of hit television plays and movies such as Nirvana in Fire, Battle of Changsha, Eastern Battlefield, and The Legend of a Hongan General, undertook the first cultural tourism private placement and perpetual bond in China for the OCT Group, and launched the first cultural tourism asset-backed securitization project for Guangdong Changlong Group. ICBC has also leveraged its advantages in internationalization and integrated services to support Chinese cultural enterprises going global, providing consultancy and financing services for Wanda Group’s acquisition of AMC, the second largest cinema company in the United States and BTG Group’s acquisition of Home Inn Group.

In addition, thanks to Internet financial technology and platform, ICBC has actively helped enterprises realize “Internet Plus”, and provided more valuable cultural and financial services for consumers. For example, ICBC worked with China CITIC Press to open a store on ICBC Mall, further expanding the company’s sales channels. The Bank has helped over 100 leading cultural tourism enterprises in Hainan, Yunnan, Guangdong, and Guangxi province to launch online services, enabling consumers to log onto the ICBC Mall to purchase local tourism services, and make payment in installments. ICBC worked with Fujian Tourism Administration to launch the Peony Tourism and Leisure Card, which is the first card hared for both finance and non-finance sectors. It also worked with major tourism scenic spots in Yunnan province to promote “Intelligent Tourism”, providing integrated online and offline one-stop services for visiting the scenic spot, shopping at famous stores, and buying famous products.