ICBC launched self-service pledged loans of personal banking assets in response to China’s promotion of six consumption areas and “mass entrepreneurship and innovation”. This product supports online self-service application, automatic approval and instant loan extension in a bid to meet customers’ consumption and business demands and fully vitalize customers’ financial assets. As at the end of this November, ICBC extended personal self-service pledged loans of RMB 107.5 billion, effectively stimulating the household consumption and business financing.

Self-service pledged loans of personal financial assets is an internet-based loan product launched by ICBC, which greatly improves customer’s financing experiences in terms of user-friendliness, operation convenience, financing timeliness and repayment flexibility, which particularly satisfies customer’s demand for liquidity. It has four features as compared with conventional loan products. First, the business process is fully internet-based, convenient and efficient. Second, the product facilitates fast loan and instant crediting. Third, the loan term is flexible from days up to one year. Fourth, customers can choose to repay the loan with their own money or pledged money.