After the Industrial and Commercial Bank of China (ICBC) implements the expansion of RBF scale, the first batch of business in the market.

Recently, the People's Bank of China announced that it will support the Hong Kong Monetary Authority in increasing the scale of RMB business funds arrangement from the current 200 billion yuan to 500 billion yuan, extending the period of use to no more than 3 years, and enhancing the liquidity of the offshore RMB market in Hong Kong. On July 10th, the Industrial and Commercial Bank of China, through its overseas subsidiary ICBC Asia, on the first day after the optimization policy was implemented, applied to the Hong Kong Monetary Authority for RBF funds with various terms such as 9 months, 2 years, and 3 years, to provide customers with flexible, low-cost, multi-term RMB financing solutions.