On September 20, ICBC and Xinjiang Production and Construction Corps (XPCC) signed the strategic cooperation agreement on “going global” in Urumqi, with a view to supporting enterprises going global. According to the agreement, ICBC will provide comprehensive financial services for businesses under XPCC in areas such as overseas project contracting and equipment export, cross-border investment and acquisition, international capacity production, overseas park development and overseas country risk management.

In recent years, ICBC has leveraged its strengths in internationalization and integration to provide financial supports for enterprises going global and “Belt and Road” initiative. By the end of the first half of 2016, ICBC has established 412 institutions in 42 countries and territories, including123 in 18 countries and territories along the “Belt and Road” route. The Bank has endeavored to build globally integrated financing product lines such as global electricity financing, global resource financing, global transportation infrastructure financing and global manufacturing financing, and beefed up efforts in cross-border acquisition, syndication, bond and leasing businesses by leveraging its international network in serving “Go Global” and “Belt and Road” initiatives.

XPCC is in a unique and strategic position in China, which has seen rapid economic and social development characterized by consistent expansion of total economy, continuous deepening of reform and opening-up, as well as major breakthroughs in restructuring. Given the industrialization, urbanization and agricultural modernization of XPCC, ICBC has explored business models and financial products that suit the characteristics of XPCC and taken the lead in introducing exclusive credit policies for XPCC. Since 2010, the Bank has totally provided financing worth around RMB 78.8 billion, with both volume and growth rate ranking atop among the banking sector.