On November 2, 2015, CSRC officially approved the RQFII (RMB Qualified Foreign Institutional Investor) qualifications of ICBC (Europe) Limited. In April 2015, the pilot area of RQFII was expanded to Luxembourg with the threshold investment amount of RMB50 billion. As the main participant in cross-border RMB operations in the European market, ICBC (Europe) quickly submitted application and obtained approval as the first financial institution to obtain RQFII qualifications in Luxembourg.

According to an official of ICBC (Europe), ICBC (Europe) will set up a new fund that mainly invests in China’s capital market after obtaining RQFII qualifications. The fund is a sub-fund of the Undertakings for the Collective Investment in Transferable Securities (UCITS) issued by ICBC (Europe) previously in Luxembourg. A specialized institution inside ICBC Group will act as the investment manager and sell the fund to institutional investors and retail investors worldwide. With this fund, ICBC (Europe) will capitalize on ICBC Group's advantages in RMB operation and its abundant investment experience in the Chinese market to provide global investors with more asset allocation opportunities in the Chinese market.

Based in Luxembourg, ICBC (Europe) is the headquarter of ICBC in Europe and was selected as the "Best Bank in Luxembourg" by Euremoney in 2014. In recent years, ICBC (Europe) has leveraged its advantages in RMB operations and overseas asset management to provide customers with RMB products and services including cross-border settlement, deposits, loans, trade finance, RMB foreign exchange trading and derivatives, offshore RMB bond issue and RMB asset management. In 2014, ICBC (Europe) successfully issued the first sub-fund under UCITS in Luxembourg - China Opportunity RQFII bond fund to provide European investors with active management style RQFII investment products and became the first locally registered Chinese bank to venture into Europe's investment fund market. In 2015, ICBC (Europe) successfully issued SIF – a global wealth management fund for private banking customers and became the first Chinese bank to issue public fund and private fund in the European market at the same time.