CICC Wins Most Innovative Bank in Asiamoney China ABS Awards

2020-12-31Corporate News

Asiamoney released the full list of its “China Asset-Backed Securities Awards 2019” recently. By leveraging on its outstanding professional capability and project performance, CICC achieved great result of winning the heavy-weight title of Most Innovative Bank for two consecutive years. This was a really tremendous achievement for CICC among so many competitors in the market.

“Although the Chinese ABS market is still relatively young compared with those in more developed markets, domestic banks and securities houses have innovated relentlessly... With such fierce competition, simply making use of a new asset class is admirable but not enough to call a firm the most innovative. CICC, however, has ventured out into new asset types as well as making substantial improvements with the existing ones.”  ——Asiamoney

CICC has been committed to provide customers with diversified, personalized products and services through ongoing exploration of innovative financial instruments. In terms of the innovation of securities products, CICC actively explored various innovative financial instruments for asset-based securitization. In 2019, as the Plan Manager for CICC-CSCEC5 No.1-10 Notes Receivable-backed ABS, CICC took the lead in product structure design, participated in the discussion of moving the assets out of balance sheet, maintained ongoing communication with regulators, and assisted the client in achieving the goal of moving the notes receivable out of balance sheet and optimizing financial metrics. As the Plan Manager for CICC-CRRC Factoring Supply Chain Finance ABS Phase I & II, CICC leveraged the cloud chain factoring system and the innovative dual-asset service institution to improve the financing environment for the small and medium-sized supplier. As the Joint Lead Underwriter of Ping An International Financial Leasing Co., Ltd.’s asset-backed notes for small and micro leasing, CICC had improved the financing efficiency and convenience of Ping An Leasing through innovative shelf registration of ABN, which helped the issuer better serve small and micro enterprises and was also a reflection of positive response to policy orientation. As the Lead Underwriter and Bookrunner of Hangying 2019 Phase I RMBS, CICC successfully introduced "Bond Connect" in this transaction, making this project the first RMBS of city commercial banks to introduce foreign investors with the largest scale, which helped extend the range of investors.

China’s asset-backed securitization market, already the largest in Asia, still has plenty more room for growth. The winners of Asiamoney’s China ABS awards are helping to push that expansion. The honor that we obtained this year continue to demonstrate our high professional standard and leading position in China’s asset-backed securitization market, and will further strengthen CICC’s reputation and influence.