A month after the June Lujiazui Forum concluded and Shanghai's offshore financial innovation plans were rolled out, China Construction Bank has aligned with the national strategy for high-level financial opening-up. The bank is focusing on the key Free Trade Zone offshore bond sector, leveraging its integrated commercial and investment banking strengths, as well as domestic and international synergies. It has achieved multiple breakthroughs across the full chain of issuance, underwriting, investment, and custody, using benchmark innovations to empower Shanghai's international financial center and the offshore RMB asset allocation system.
Innovation in offshore issuance is accelerating. In July of this year, CCB Asia successfully underwrote and placed a 1 billion yuan, 3-month RMB FTZ offshore bond for CCB New Zealand Branch. This marks the Group's second entry into the Shanghai FTZ offshore bond market this year. Following the launch of the world's first Hong Kong dollar-denominated FTZ offshore bond in March, this project represents the Group's first RMB FTZ offshore bond, creating a benchmark for offshore RMB financing innovation in the Oceania region. It offers a replicable and practical model for the diversified, multi-currency development of the FTZ offshore market.
During the same period, with CCB Sydney Branch as the issuer and CCB (Asia) as the lead underwriter, and leveraging local advantages, CCB Shanghai Branch coordinated efforts to successfully issue the first RMB FTZ offshore bond in ECD format through the China Central Depository & Clearing Co. This successful issuance fully demonstrates the CCB Group's professional capabilities in cross-border bond issuance, its domestic and international synergistic advantages, and its global financial service capabilities.
Integrated investment and underwriting support services are now taking shape and being fully implemented. Leveraging the head office's FTU sub-accounting unit advantages, the CCB Shanghai FTZ Business Center has made the first primary market investments in FTZ offshore bonds, with cumulative subscriptions of 85 million yuan in offshore bonds from China Minsheng Bank Hong Kong Branch and CCB Sydney Branch. CCB (Asia)'s underwriting business has streamlined the custody path with CCDC, enabling dual-channel operations through both Shanghai Clearing House and CCDC. Combined with CCB Singapore Branch's sub-custodian qualification at Shanghai Clearing House, the bank has successfully built a "four-in-one" full-chain service system for FTZ offshore bonds, covering underwriting, custody, investment, and issuance, continuously strengthening its one-stop service capabilities.
Relying on its global network, CCB has established a mature Group-wide cross-border coordination mechanism, fully opening up two-way investment and financing channels. Looking ahead, China Construction Bank will continue to deepen its "integrated commercial and investment banking, domestic and international, and group-wide" business model. It will persistently enrich its multi-currency FTZ offshore bond product matrix, broaden the scenarios for cross-border RMB usage, and smooth the two-way cross-border investment and financing cycle. With the mission and responsibility of a major state-owned bank, it will continue to optimize Shanghai's offshore financial ecosystem, supporting the nation's high-level financial opening-up to advance further.
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