In the selection of the Best Foreign Exchange Bank hosted by the US magazine Global Finance, ICBC was awarded the “Best Foreign Exchange Bank of 2015”  for its excellent foreign exchange trading capability and leading market position. In addition, the Bank also won the “Best Foreign Exchange Market Maker in China” Award, becoming the only Chinese bank granted this honor.

In recent years, ICBC has accelerated innovation in businesses such as currency exchange, foreign exchange trading and risk management, continued to strengthen competitiveness and influence of its foreign exchange business across the industry, and tried to provide customers with all-currency foreign exchange trading services.

In term of agency foreign exchange trading, ICBC has made foreign exchange settlement and sale of 26 currencies available to retail customers, launched account-based foreign exchange products in 10 currencies, and delivered purchasing and selling services of 39 currency pairs, becoming the bank with the widest scope of currencies in China. The account-based foreign exchange products invested in RMB, first of its kind launched by ICBC, have significantly expanded investment and financing channels for retail customers. To meet foreign exchange trading needs of corporate customers, ICBC can provide purchasing, selling and hedging services in more than 200 foreign currencies which cover the countries and territories along the “Belt and Road” and emerging economies.

In term of market making trade, ICBC has secured its leading position in the inter-bank market for years. It has been awarded the “Best Comprehensive Market Making Institution” by China Foreign Exchange Trade System (CFETS) for four consecutive years, and is also the only bank qualified as the market maker for all direct trading currencies in the inter-bank foreign exchange market. In order to enhance its foreign exchange trading service capacity across the world, ICBC has set up the offshore RMB market making trading system. So far, it has established the 24-hour global market making trading mechanism centered on ICBC Asia, Singapore Clearing Bank and ICBC Standard Bank, which further deepened its influence in the global market.