According to the 2016 Work Conference of Industrial and Commercial Bank of China (ICBC) , ICBC will accelerate innovation of financial support and service modes, striving to inject positive energy and new impetus to the supply-side reform and the quality and efficiency improvement of real economy.

ICBC will focus on five measures to serve real economy. Firstly, ICBC will highlight the utilization of incremental and outstanding credit, credit and non-credit financing services to bolster enterprises’ demand for financing and diversified financial services. Greater focus will be put on improving the integrated management of the “debt recovery and re-lending” mechenism as well as the incremental credit. Integrated allocation will be conducted on credit resources based on full flows. ICBC will provide financial impetus for economic transition and structural reforms through credit flow control and structural adjustment. It will also be adapted to the rapid development of direct financing, step up the transition of financial business, make full use of its advantages on bond underwriting, financial leasing, the entire chain of investment banking and financing business system with multiple licenses, and satisfy the financing needs of real economy through multi-channels.

Secondly, ICBC will strengthen financial services for key industries and areas for real economy growth. It will keep up with the changes of economic growth momentum, and provide key support to major engineering project constructions, urban infrastructure constructions, “Made in China 2025” plan, modern service industry, modern agriculture industry, new-type consumption and other areas under the 13th Five-Year Plan, highlight the establishment of credit service models for new industries, new formats and new technologies. ICBC will continue to follow the national strategy of “Four Major Economic Plates” and “Three Support-Belt”, as well as the new trend of urban development after the City Work Conference of the CPC Central Committee. Based on the spatial layout and functional orientation of city development, ICBC will offer financing services for urban railroad transportation, interurban railway, underground pipe network, smart city, sponge city construction and other infrastructure construction.

Thirdly, ICBC will place greater emphasis on meeting the financing demands of small and micro enterprises and household consumption through innovative measures. Priorities will be given to loans to micro and small enterprises (MSEs), personal housing mortgage loans and personal financial assets-backed loans. ICBC will strive to achieve its objectives for loans to MSEs, deepen the construction of specialized institutions for MSEs, and gradually shit focus of MSE banking business towards small amount and high quality. ICBC will also accelerate innovation and promote standardized financing products that are suitable for MSEs and individual customers, fully facilitate the development of online business model and the model where offline business supports online business, bring the overall advantage of “online data + offline institutions” into full play, rapidly respond to the customer demands and precisely control risks.

Fourthly, ICBC will intensify financial services for supply-end structural reform. Based on the principle of differential treatment, selective support and control, ICBC will steadily reduce its financing available for industry with excess capacity, stock and leverage, and facilitate structural adjustments within those industries. ICBC will also be engaged in “de-capacity, de-stocking and de-leveraging” reform, closely follow up the liquidations of “zombie” companies in iron and steel industry, provide investment banking services like debt restructuring service to help “zombie” companies to conduct acquisition and reorganization rather than bankruptcy and liquidation, and help embattled companies to deal with near-term risks and long-term difficulties.

Fifthly, ICBC will leverage its advantage of international development to help companies go global. An overall planning will be conducted on the development of investment and financing product lines, such as global financing, investment banking and financial leasing In addition, emphasis will be placed on global financing product lines, including global electricity financing, global resource financing, global transportation infrastructure construction financing and global manufacturing financing. ICBC will actively develop cross-border mergers and acquisitions, syndicated loans, bonds and leasing businesses. As an international bank, ICBC will endeavor to provide services for key “go global” projects including the “Belt & Road” initiative, international capacity cooperation and capacity export.