OREANDA-NEWS. January 28, 2013. In 2012, the Trade Finance Committee of China Banking Association ("Trade Finance Committee") organized an event to screen out banks in China with the best trade finance services. The aim of the event was to drive the growth of trade finance sector in commercial banks and recognize banks that have demonstrated excellence in this field. ICBC soared above the competition and took the award for "Best Bank in Innovation of Trade Finance Products". This year's competition was the first award program organized by the Trade Finance Committee across the country, ICBC was the first bank to win the award, reported the press-centre of ICBC.

In recent years, trade finance services of commercial banks stay on a fast-growth track marked by increasing scale, new services, strong team and expertise. Today, banks provide total trade finance solutions instead of selling products, a full range of loan services covering import and export trades instead of trade finance loan only. Based on these, ICBC designs trade finance products specifically for the customers. At the heart of the product repertoire include online products, offline products encompassing standard products, tailored products, loan solutions for all companies in the industry chain.

As of today, ICBC has developed 21 domestic trade finance products, 14 international trade finance products, 6 portfolio products, 3 online products, offline and online industry chain finance products and over a hundred customized loan solutions. Among all banks in China, ICBC is a market leader in the launch of innovative trade finance products. Winners were measured by "Industry leadership, product innovation, user experience", ICBC soared above the competition and became the first bank to win the award.