1.Product Overview
According to Announcement No. 4 [2022], jointly issued by the People's Bank of China, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange, various foreign entities are allowed to directly enter China’s inter-bank bond market for investment. These entities include sovereign institutions like foreign central banks, monetary authorities, international financial organizations, and sovereign wealth funds, as well as financial institutions legally registered outside China, such as commercial banks, insurance companies, securities firms, fund management companies, futures companies, trust companies, and other asset management institutions. Additionally, medium- to long-term institutional investors, including pension funds, charity funds, and endowment funds, are also permitted to participate.

2.Target Clients
Financial institutions which are registered and established outside the People's Republic of China, such as commercial banks, insurance companies, security companies, fund management companies and other asset management institutions, investment products legally issued to Clients by financial institutions listed above, and other medium- and long-term investors that are recognized by PBOC, such as pension fund, charity fund and donation fund.

3.Scope of Services
1.Agency service: handle registration of qualifications and quota, and carry out settlement in the inter-bank market on behalf of Clients;
2.Account opening: open fund account, securities account and other relevant accounts for overseas Clients in accordance with requirement of the regulatory authorities;
3.Asset custody: set independent accounts for different overseas Clients, keep the account independently, make sure the account balance match with vouchers, and guarantee the integrity and independence of fund assets;
4.Fund transfer: timely handle clearing and delivery of fund assets in accordance with investment instructions issued by the fund managers;
5.Investment supervision: supervise whether instructions and investment operation of the fund managers are compliant according to laws and regulations and requirements of the Clients;
6.Accounting: carry out fund accounting, check and review net asset value of fund assets calculated by the fund managers;
7.Foreign exchange translation: exchange currencies, and settle/sell foreign exchanges;
8.Custody report: provide fund custody and accounting reports to the fund investors and regulatory authorities on a regular basis;
9.Record keeping: keep record, accounts, statements and other materials relevant to the overseas Clients' custody business for at least 15 years in accordance with the government regulations.

4.Advantages
As the largest custodian bank in China, ICBC has maintained its leading position in the market for many years in terms of market share of asset custody business.
It is also the most professional custodian bank in China, with an advanced custody service system independently developed by it. The system has obtained ISAE3402 authentication (formerly known as SAS70), the first one of its kind in China, indicating that ICBC’s custody services have met international standards.
ICBC, the most powerful domestic commercial bank, owns a fast clearing network, abundant RMB funds and strong A share settlement capability, hence it can provide overseas Clients with efficient and comprehensive service support.

5.Contact Information
For assistance with related services, please contact the Global Asset Custody Division of the Asset Custody Department at the Industrial and Commercial Bank of China (ICBC):
Contact Person: Hanruo Qiao
Tel: +86 10 8101 3751
E-mail: hanruo.qiao@icbc.com.cn