ICBC Group's cross-border RMB business volume soared to a record high in 2015, reaching RMB 4.34 trillion, up 18.61% year on year. The cross-border RMB business volume of domestic branches amounted to RMB 2.26 trillion, representing a year-on-year increase of 35.57% and well above the state average growth. So far, ICBC has launched RMB business at all overseas institutions to the extent approved by local regulatory authorities, which has contributed over 20% to the overseas institutions' revenue and profit, even more than 60% in some cases. RMB business has grown into one of the most important drivers to ICBC's overseas business.

An ICBC head said that the innovation and development in cross-border RMB business is generating more benefits at a faster speed, which has not only brought key strategic opportunities for the bank to develop businesses, but also given new impetus for Chinese enterprises going global and the growth of the real economy.

For ICBC, the expansion of overseas exposure has provided major channels and media for the cross-border use of RMB. The Bank has now set up 400 overseas institutions in 42 countries and territories worldwide, and extended its reach to 20 African countries by investing in Standard Bank, becoming a bridge connecting onshore and offshore RMB markets. In addition, it also took the lead among global banks in establishing a round-the-clock global RMB clearing service system. As overseas RMB business clearing banks authorized by the People's Bank of China (PBC), Singapore Branch, Luxembourg Branch, Doha Branch, ICBC (Canada), ICBC (Thai) and ICBC (Argentina) can handle RMB business across different time zones, enabling ICBC's RMB clearing network to cover 76 countries and territories across the world. Meanwhile, the Bank has developed a sound product mix including RMB cross-border settlement and clearing, agency service of domestic bond investment and foreign exchange trading, bond underwriting, RMB exchange rate and interest rate trading, overseas RMB loan, RQFII, asset management, asset custody, and Shanghai-Hong Kong Stock Connect. In addition, the Bank has also expanded the cross-border use of RMB through its institutions in free trade zones and financial innovation pilot sites as well as its overseas RMB clearing banks. ICBC has accelerated RMB business innovation such as cross-border RMB investment and financing and RMB business in free trade zones. As a global coordinator, it issued RMB5 billion PBoC's bills in London, recommend central banks and sovereign wealth funds of many countries to invest in RMB assets, handled the first RMB clearing business through the CIPS system in Asia, and completed the first cross-border RMB wealth management business in China (Shanghai) Pilot Free Trade Zone and the first cross-border loan business in China (Guangdong) Pilot Free Trade Zone (Hengqin Area of Zhuhai).