Recently, ICBC and IATA signed the Clearing Service Agreement. According to the agreement, ICBC will provide clearing services for a project developed by IATA -- the "Information Service Platform for Travel Product Reservation and Settlement". This was another major cooperation between ICBC and IATA on settlement and clearing after the Clearing Project under BSP (Billing and Settlement Plan), which is a sales and settlement system developed by IATA to serve between air companies and agents.

The "Information Platform for Travel Product Reservation and Settlement" is an electronic distribution system to offer travelers services of booking domestic hotels and other travel products. The main sales channel of this system is through 4000 China BSP agents approved by IATA. After this Project releases, it is anticipated that nearly 4000 agents and 3000 hotels will be involved in this clearing system, double the current scale of domestic air ticket clearing. As the only Clearing Bank of the project, ICBC will provide fund settlement and clearing services for all hotels and agents participating in the system across the country.

ICBC Person-in-Charge from related department stated that all revenue from sale of air tickets in China by IATA had been cleared through ICBC after ICBC and IATA signed the BSP (China) Clearing Agreement on August 30, 2001. In October 2005, ICBC signed the Strategic Cooperation Agreement with IATA and thus become an official Partner Bank of the Organization. This moved the cooperation of two parties further by actively working closely on many areas such as airport development, industry taxation, passenger and airport services, and revenue accounting. During the implementation of this "Information Service Platform for Travel Product Reservation and Settlement", IATA directly designated ICBC as the only Clearing Bank for the project instead of tendering Partner Banks as former practices. It demonstrated high regards held by IATA on ICBC Settlement and Clearing Services.