The securitization of housing provident fund loan in Zhejiang Province, with ICBC serving as the leading underwriter and chief coordinator, was publically issued in the interbank market. The issuance was successful with strong oversubscription.

As one of the first pilot securitizations of housing provident fund loan launched in interbank market, the project has significant implication in vitalizing stock assets of housing provident fund, enhancing the capital strength of the housing fund center and securing the housing rights of employees.

The issuance consists of two securitization projects in Hangzhou and Huzhou, totaling RMB 1,514 million. The asset pools of the projects are from the housing provident fund loans of the housing fund center, and are mainly targeted at investors in the interbank market.

According to an ICBC official, in recent years, the Bank has been actively adapted to financial disintermediation and corporate deleveraging, accelerating transformation of corporate financial businesses by leveraging the whole-process and multi-license financing business system including bond underwriting, financial leasing and investment banking, and developing direct financing to support the financing needs of real economy through multiple channels. In 2015, ICBC underwrote a total of 1,530 bonds at home and abroad, raising over RMB 1.4 trillion for the real economy, significantly supporting the financing needs and diversified financial needs of the real economy.