ICBC Raises International Business Competitiveness by Electronization

A responsible person of ICBC stated when interviewed by the report the other day that ICBC is making great effort to carry out electronization of international business so as to raise its competitiveness of international business and try to realize integration of foreign exchange business system and Renminbi system to provide customers with overall banking service.

A responsible person of ICBC stated that ICBC successively launched international settlement (ISEE), credit comprehensive management system (CM2002), trade financing, transfer-loan, agent authorization management and foreign trading centralized settlement and forward foreign exchange settlement and sale business, etc, since 2004, greatly increasing electronization of international business of ICBC and realizing primary integration of foreign exchange business system and Renminbi system.

The responsible person also disclosed that with growth and expansion of overseas organization of ICBC, overseas business is continuously developed in terms of scale, variety and innovative ability. To meet higher requirements of internal and external supervision and management integration, ICBC currently sets out to optimize, improve and integrate overseas electronization system.

Besides continuously advancing overseas ranch data centralization and system upgrade, ICBC focuses on pushing "overseas branch Internet Banking" and "CM2002 Overseas Expansion". On the other hand, ICBC is planning to comprehensively advance domestic international business system from three aspects: one is to build system required by monitoring and regulatory authority, such as foreign management report and delivery system, marketing dealer system and export and processing trade deposit system, etc; another is to build system filling business vacancy: such as derivative product system; and the other is to continue the launched projects, such as document and certificate center system and CM2002 trade and financing customer authorization system, etc.