Recently, ICBC and China Shipping (Group) Company (hereinafter referred as "China Shipping") jointly held an announcement on short-term financing bonds of RMB 5 billion in Shanghai. More than 60 representatives from bond issuer, joint lead-underwriters, underwriting team members, rating organization, lawyer firm and accountancy firm attended the announcement conference. Mr. Zhang Furong, Vice President of ICBC, attended the conference and made a speech on behalf of the joint lead-underwriters.

China Shipping is the largest costal carrier in China, ranked the 6th of Container Liner Companies in the world. By the end of 2005, total assets of the group reached RMB 64.2 billion with total profit surpassed RMB 9 billion. China Shipping's RMB 5 billion short-term financing bonds in 2006 was approved and put on records by Peoples' Bank of China on April 20. The first batch of RMB 3 billion was issued on April 28. By now, it is the largest amount of short-term financing bonds that ICBC has undertaken as lead underwriter.

The successful issue of China Shipping short-term financing bonds earned high recognition from Issuer. Apart from pushing strategic cooperation relationship between bank and enterprise further, ICBC consolidated its good image in underwriting short-term financing bonds and laid solid foundation for ICBC to develop in this market.