On April 21, China officially launched pilot free trade zones (“FTZs”) in Guangdong, Fujian and Tianjin. ICBC opened its financial service institutions in the three FTZs on the same day with services fully covering Fuzhou, Pingtan, Xiamen, Nansha in Guangdong, Hengqin in Zhuhai, Qianhai in Shenzhen, and Dongjiang Port and Binhai New Area in Tianjin. The institutions will offer high-quality and efficient financial services to the FTZs, the pioneers in reform & opening-up and innovative development.

In Fujian FTZ, ICBC officially launched Fujian FTZ Fuzhou Sub-branch, Fujian FTZ Pingtan Sub-branch, Xiamen FTZ Xiangyu Sub-branch, Xiamen FTZ Jichang Sub-branch, and Xiamen FTZ Hangyun Sub-branch. In Guangdong FTZ, the Bank set up Nansha FTZ financial innovation and service center, aiming to become a platform providing one-stop cross-border financial services by integrating cross-border business, product innovation, financial asset trading, and headquarters services. On April 21, the Bank established Tianjin FTZ branch. In addition, 13 outlets under five branches including ICBC Tianjin Baoshui Branch, Dongli District Sub-branch, Konggang Sub-branch, Lingang Sub-branch and Economic and Technological Development Zone Branch in the three areas of the Tianjin FTZ will offer financial service to local customers. On the opening day, Tianjin FTZ Branch processed its first international trade financing business valued over USD 6 million for a local enterprise, representing the first business handled in the FTZ in north China.

Simultaneous with the launch of these institutions, ICBC is arranging various businesses in the FTZs to comprehensively promote financial innovation and expand featured financial business. At present, the Bank’s service institutions in the FTZs are actively developing and innovating exclusive products for the FTZ business, and launching various exclusive financial products covering settlement, investment, financing, and transaction to customers in the FTZs. For example, the Bank’s institutions in Fujian FTZ are positively expanding businesses including cross-border fund settlement, financing, investment and M&A, global cash management and finance leasing. In Tianjin FTZ, the Bank will provide local customers with featured services such as RMB overseas borrowing, cross-border two-way RMB capital pool, cross-border RMB business with third-party payment institution, opening of free trade account, and trade finance under the free trade account.