![]() Technology creates valueĬross-border finance is developing rapidly and, at the same time, customer needs for Internet finance and new payment methods have increased drastically. ![]() In the future, the bank plans to provide diverse low-cost, cross-border financing services, including IPOs and issuing bonds, cross-border renminbi services, and cross-border asset management services. Headquartered in Hong Kong, ICBC (Asia) benefits from the city’s position as an offshore center for renminbi and cross-border banking services. At year-end 2017, ICBC (Asia)’s total assets amounted to US$114.47 billion. ICBC (Asia) has 57 retail outlets and serves as the flagship of the overseas banking business of ICBC Group. How has it made such impressive progress?īy the end of 2017, the bank had established partnership with more than 500 enterprise customers, supported the settlement of nearly 20 currencies, processed more than 36 trillion yuan (US$5.53 trillion) of settlements, and received more than US$4.6 billion in total deposits. The Industrial and Commercial Bank of China (Asia) started its cross-border renminbi business in 2013 and has since achieved double-digit growth in its business. Cross-border finance is developing rapidly thanks to the opening up of China’s capital market and the development of the greater bay area that links Guangdong, Hong Kong, and Macao.
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