OREANDA-NEWS. October 15, 2014. In recent years,with the aim to better serve the real economy and follow the steps of "going global" customers, ICBC has provided strong financial support to Chinese enterprises with global ambitions.

As at the end of June 2014, the Bank provided  USD 22 billion in loans to “going global ”projects, and helped domestic enterprises expand presence in 46 countries around the world, spanning dozens of major sectors including power, telecommunications, transportation, construction, oil & gas, coal, metals & minerals, alternative energy and manufacturing.

In supporting domestic enterprises "going global", ICBC has continued to step up promotion of relevant product lines based on the trend of economic restructuring, as an attempt to align its support for going global with the transformation and upgrading of the economic structure. For example, the Bank has vigorously carried out cross-border financing by leveraging its extensive service network worldwide, actively supported equipment exports and overseas engineering construction, and provided products such as export credit, overseas loans under domestic guarantee, and global supply chain financing to support Chinese businesses’ overseas expansion and "going-global" initiative.

Meanwhile, with the accelerating pace of going global, demands for banking services have grown from the traditional deposits, loans and settlement services into more diversified and comprehensive ones, especially corporate banking, investment banking, and financial intermediary services. ICBC has implemented the notion of "commercial banking + investment banking" and supported multiple key overseas M&A projects for Chinese enterprises by combining traditional financing products with new services such as financial consulting, bond underwriting, wealth management and investment, which has helped realize adjustment of industry chains and technology upgrading. Such projects include China Minmetals Corporation's acquisition of the Las Bambas copper mine in Peru, CNOOC's acquisition of Nexen from Canada, China Three Gorges Corp.'s acquisition of Energias de Portugal, Wanda Group's acquisition of Sunseeker from the UK, Wuhan Iron & Steel Group's acquisition of ThyssenKrupp Tailored Blanks, and XCMG's acquisition of Schwing from Germany.