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ICBC Raises over RMB360 billion for the Real Economy Through Bond Underwriting in Q1 2021

Since the beginning of the year, by fully leveraging its strength in bond services, ICBC has reacted to the financing needs of the real economy, to actively support the development of green economy and the implementation of the rural revitalization strategy. As at the end of the first quarter, ICBC underwrote 300 bonds of various types as the lead underwriter, with a total value of over RMB360 billion, the largest of its kind in the market. The financing has provided strong funding support to the real economy.

In terms of supporting the development of green economy, ICBC served as the lead underwriter of the first batch of “carbon neutrality” green bonds in China, to help realize the goals of achieving peak carbon emissions and carbon neutrality. In the first quarter, ICBC completed the underwriting of a total of six “carbon neutrality” green bonds, with over RMB30 billion raised for issuers. Sichuan Airport’s RMB500 million green medium-term note is among the first six “carbon neutrality” green bonds issued in the interbank market. CDB’s RMB19.2 billion green bond is the first “carbon neutrality” green bond certified by Climate Bonds Initiative (CBI) in the domestic market.

In terms of supporting rural revitalization, ICBC underwrote the first rural revitalization notes in China, to guide and encourage social capital to invest in agriculture and rural areas through market-oriented means. In the first quarter, ICBC successfully issued the first rural revitalization notes in China for companies including COFCO and New Hope Liuhe, and raised a total of RMB5 billion. The raised funds will be invested in key fields like development of rural industries, integration of urban-rural transportation, and stabilizing and increasing farmers’ income. ICBC’s underwriting has created a good demonstration effect of how finance can support the modernization of agriculture and rural areas and promote the implementation of the rural revitalization strategy.