• News
• 2024-07-25

ICBC's Steady & Improved Operations in H1 2024 Support China's Modernization

Focusing on Modernization Layout, Continuously Enhancing the Quality and Efficiency of Real Economy Services

Industrial and Commercial Bank of China (ICBC) continuously improves the supply of high-quality finance, centers on the modernization layout, adheres to the integrated development strategy of investment and financing, highlights the main responsibilities and core businesses, coordinates the total amount and structure, and the increase and stock of investment and financing, to more accurately and effectively meet the financial needs of the real economy.

Continuously increase the capital supply to the real economy. In the first half of the year, the domestic branches of ICBC increased their RMB loans by 1.74 trillion yuan, a growth of 7.1%; the balance of RMB bond investments increased by 1.09 trillion yuan, and the main underwriting of bonds in the domestic market was nearly 770 billion yuan. Both the total amount and the increase of investment and financing maintained a leading position in the market.

The investment and financing structure is more compatible with the real economy. ICBC has solidly carried out the financial "five major articles", highlighted the main responsibilities and core businesses, and strengthened financial services in areas such as "two important", "two new", and "three major projects". The loans to the manufacturing industry increased by 13%, loans to strategic emerging industries increased by 14.7%, green loans increased by 13.7%, and inclusive loans increased by 21.5%, all higher than the average growth rate of various loans. Actively implement the requirements of the urban real estate financing coordination mechanism, and strongly support the delivery of houses. Focus on promoting consumption and expanding domestic demand, with a total increase of more than 304 billion yuan in personal consumer loans, business loans, and credit card overdrafts.

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Help to accelerate the cultivation and development of new quality productive forces. ICBC takes the transformation of technology and equipment renewal projects as an important focus, continues to increase the investment of manufacturing loans, especially medium and long-term loans, to help the high-end, intelligent, and green development of the manufacturing industry. Deeply carry out the "Spring Seed Action", and increase the financial support for the entire life cycle of technology-based enterprises. Establish a total bank technology finance center, strengthen the linkage of "equity loan debt guarantee", and increase the investment of special and new loans, to stimulate the leading role of scientific and technological innovation in the modern industrial system. As of the end of June, the balance of loans to strategic emerging industries was 3.1 trillion yuan, an increase of nearly 400 billion yuan from the beginning of the year.

Service regional coordinated development is balanced and effective. ICBC closely revolves around the national major regional development strategies, continuously optimizes the regional financial layout, improves the financial supply, and meets the multi-level and diversified financial needs of market entities and financial consumers. Deeply implement the urban and rural linkage development strategy. As of the end of June, mobile banking and ICBC "Xingnong Tong" APP have served more than 174 million online agricultural customers; a total of more than 4,700 rural inclusive financial service points have been established, and the county network coverage rate has increased to 87%; in the first half of the year, the loan growth rate of key counties was higher than the average growth rate of various loans.

Intelligent risk control is deeply promoted, and various risks are generally controllable.

ICBC firmly establishes the overall national security concept, coordinates development and security, insists on "early identification, early warning, early exposure, early disposal" of risks, follows the path of "active prevention, intelligent control, comprehensive management", deepens the comprehensive risk management of domestic and foreign institutions, on and off-balance sheet businesses, commercial and investment banking businesses and other businesses, online and offline, and the head office and subordinate institutions "five books", and resolutely maintains the bottom line of safe development.

Credit asset quality remains stable. ICBC continues to improve the intelligent credit risk control system, iterates and operates the new credit approval regulations at a high standard, and plays the role of the "key valve" in asset quality management. Continue to carry out asset quality slogging, and the risks in key areas such as real estate, local government debt, and small and medium financial institutions are effectively controlled, and the overall asset quality remains stable. As of the end of June, the non-performing loan ratio was 1.35%, down 0.01 percentage points from the beginning of the year; the provision coverage ratio increased by 4.46 percentage points from the beginning of the year, and the risk resistance capability continues to strengthen.

Comprehensive risk management continues to be enhanced. ICBC improves the group risk internal control system and mechanism, deeply promotes the construction of the risk officer system at all levels, and continuously optimizes and improves the comprehensive risk management system. Strengthen the risk management of information technology and network security, product life cycle risk prevention and control, and emerging fields, investment and financing business cooperation institutions, etc. Continue to carry out risk hidden danger investigations, improve risk response plans and management measures, and deal with global market fluctuations and external impact impacts in a stable manner.Intelligent risk control capabilities continue to improve. ICBC, leveraging its financial technology advantages, accelerates the intelligent transformation of risk control, promotes the sharing of all risk data, enhances the efficiency of cross-risk monitoring, and improves the ability to identify, warn, expose, and handle risks early. By applying cutting-edge technologies such as satellite remote sensing and large models, ICBC deeply integrates data processing, intelligent services, and open ecosystem construction, creating a benchmark for a safe and stable bank.

Reform and transformation accelerate and strengthen, with the momentum for high-quality development continuously increasing.

ICBC adheres to innovation while maintaining its core principles, consolidating the strategic layout of "strengthening strengths, addressing weaknesses, consolidating foundations, and enhancing fundamentals". It firmly grasps the direction of modern finance, focuses on changes in customer needs, and deeply promotes innovation in key areas such as GBC+ foundational projects and Digital ICBC, driving the business ecosystem to become more refined and the new momentum for development to continuously strengthen.

The ecological foundation is continuously solidified. ICBC persistently advances the GBC+ foundational projects, promoting the synergy of the capital chain, customer chain, service chain, and value chain. It has released the first financial infrastructure service plan in the banking industry, improved the industrial fund customer management system, and continuously enriched the connotation of the financial cooperation ecosystem. Further solidifying a balanced foundation, ICBC insists on balancing value creation, market position, risk control, and capital constraints, promoting the synergy of assets, capital, and funds, as well as loans and deposits, achieving robust core indicators such as pre-provision profit and net profit, ensuring a clean and healthy balance sheet and a balanced, coordinated, and sustainable income statement.

The diversified structure continues to improve. ICBC continues to adjust its structure and enhance its strength. The coordinated customer structure of "large, medium, small, micro, and individual" is being rapidly constructed, with the number of corporate, personal, and inclusive customers increasing by 788,000, 8.932 million, and 463,000 respectively. The business structure continues to optimize, with the proportion of "retail + inclusive" loan increases further enhanced. The sector structure continues to be strengthened, with corporate loans, bond investments, savings deposits, and institutional and interbank deposits achieving good growth. The balance of RMB deposits is nearly 32.4 trillion, with an increase of 557 billion yuan; the balance of personal financial assets (AUM) is nearly 21.8 trillion, maintaining a leading position.

Digital momentum accelerates. ICBC continues to promote the construction of "Digital ICBC" (D-ICBC), accelerating the transformation of more digital products and services from "usable" to "user-friendly". It has released the 9.0 version of mobile banking, providing customers with more intelligent and convenient mobile financial services, with mobile banking customer scale and monthly activity maintaining a leading position. It has deepened the construction and empowerment of billion-level large model technology, which has been applied in dozens of business scenarios in financial markets, credit risk control, online finance, and other fields, accelerating the cultivation of new momentum and advantages. It practices self-reliance in science and technology, continuously improving the digital technology ecosystem of the Smart Bank EcoSystem (ECOS), with the number of invention patent authorizations ranking first in the domestic industry in the first half of the year. It actively responds to new challenges in financial network security, with the system availability rate of the entire bank's information systems continuously maintaining a high level of over 99.99%.

Service to high-level opening up is effective and powerful. ICBC fully leverages its global operational advantages and actively serves the national strategy of high-level opening up. It comprehensively serves the construction of a trading power, launching the "Spring Integration Action 2024" to support the integrated development of domestic and foreign trade, providing financing of over 500 billion yuan for key domestic foreign trade and foreign-funded enterprises in the first half of the year. It deeply carries out the "Spring Warmth Action", providing high-quality cross-border RMB services for global market entities. It focuses on supporting the "strong international financial center", supporting the opening of financial markets, and serving more than 700 overseas institutional investors from over 60 countries and regions. It optimizes payment services for foreigners coming to China, setting up the "Overseas Guests Payment Service Center", providing professional services such as foreign card cash withdrawal, currency exchange, and card binding consultation. It continues to deepen international cooperation, fully leveraging the role of platforms such as the BRICS Business Council, the "Belt and Road" interbank cooperation mechanism (BRBR), and the China-Europe Business Alliance, to help build a more stable and multilateral international financial order.

In the next stage, ICBC will坚持以习近平新时代中国特色社会主义思想为指导，深入学习贯彻党的二十届三中全会精神，全面贯彻落实党中央、国务院决策部署，扎实落实中央巡视和党纪学习教育要求，坚持党建引领、推进"五化"转型，以改革实效促进主力军和压舱石作用发挥，坚定不移走好中国特色金融发展之路，展现助力金融强国建设、服务中国式现代化的新气象新作为。