ICBC Singapore Branch, the first overseas institution of ICBC, was established in 1993. It was awarded qualifying Full Bank License by MAS in 2012. In 2013, ICBC Singapore Branch was appointed by The People’s Bank of China as the first RMB Clearing Bank outside Greater China and the sole RMB Clearing Bank in Singapore. ICBC Singapore offers a full-fledged suite of financial products and services, including retail banking, corporate banking, institutional banking, private banking, cross-border RMB business, RMB clearing services and etc. It is committed to continuous innovation in RMB products and services, forged numerous industry firsts, including the first issuance of corporate Lion City bonds for both Chinese and Singapore companies, the first establishment of a cross-border RMB cash pool in a Free Trade Zone (FTZ), the first FTZ direct cross-border loans, the first FTZ financial transactions, as well as the first cross-border RMB loads to Suzhou Industrial Park and Guangxi Financial Reform Pilot Zone respectively. Over the years, ICBC Singapore has already established itself as the preferred RMB bank in Singapore.