Regulator Allows Bank Subsidiary to Sell Special Bonds

(Beijing) – The securities regulator has allowed a subsidiary of the nation's largest bank to launch a specific asset management plan, a type of debt-financing tool called asset-backed securities (ABS).

ICBC Financial Leasing Co. Ltd., a wholly owned subsidiary of Industrial and Commercial Bank of China, obtained the approval of the China Securities Regulatory Commission (CSRC) to sell two types of bonds worth a combined 1.6 billion yuan, an executive from the leasing company said on November 19.