ABC Singapore Branch injects new momentum into China-Singapore economic and trade cooperation

In July 1995, the Agricultural Bank of China Limited (ABC) inaugurated its first overseas branch in Singapore. Over the past three decades, ABC Singapore Branch has remained committed to supporting China-Singapore exchanges and cooperation, serving the Agricultural Bank of China Group (the Group) , and expanding its reach from Singapore into Southeast Asia. Guided by the principle of pursuing progress while ensuring stability and promoting stability through progress, the branch has grown from a gateway for "going global" into a hub for "taking root", providing innovative, high-quality financial services while strengthening bilateral and regional partnerships.

Serving national strategies, strengthening financial connectivity

As a branch of a major state-controlled commercial bank, ABC Singapore Branch has consistently shouldered its responsibility to support national strategies.

The branch has been an active contributor to the Belt and Road Initiative (BRI), supporting major cross-border projects along the New International Land-Sea Trade Corridor. Notably, it partnered with ABC Guangxi Branch to support the Malaysia–China Kuantan Industrial Park project and collaborated with ABC Chongqing Branch to promote integrated logistics and finance between Western China and Southeast Asia.

In alignment with the Group's action plan for delivering high-quality financial services under the Regional Comprehensive Economic Partnership (RCEP), the branch has served client's needs in cross-border investment and financing.

The branch has also deepened regional financial cooperation by helping enterprises in issuing offshore bonds and raising funds through public listing internationally. Notably, the branch signed a strategic cooperation agreement with CGS International Securities Singapore Pte Ltd, to jointly strengthen China-ASEAN trade, investment, and capital-market connectivity.

To further advance China-Singapore economic and trade cooperation, the branch supported Chongqing enterprises in issuing both the first offshore renminbi bond and the first private-sector "Lion City Bond" under the China–Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity. In addition, it provides a full suite of cross-border financial services, covering international settlement and trade financing, while hosting multiple China-Singapore investment forums to foster collaboration between industries and capital across both markets.

Making "green" a defining feature

ABC Singapore Branch actively implements the Group's green finance strategy and stays committed to sustainable development.

It prioritizes supporting international agricultural cooperation by leveraging "two markets and two resources". By connecting domestic and overseas markets, the branch contributes to industry and supply chains development for agriculture-related enterprises worldwide.

Green finance has been placed at the heart of its business innovation. The branch has established a Green and Sustainable Finance Committee and pioneered three key frameworks: the Sustainable Financing Framework, the Transition Finance Framework, and the Sustainability-linked Loan Funding Framework. Together, these frameworks form a comprehensive system covering policy design, product innovation, and risk management, helping enterprises accelerate their low-carbon transition.

Its achievements have gained international recognition. The syndicated loan project for COFCO (HK) International Limited in which the branch participated in 2019 won the "Syndicated Green/Sustainable Deal of the Year" award from the Asia Pacific Loan Market Association (APLMA). In 2020, the branch's case regarding "Operating Closed Loop Funds and Practicing Green Financing" was awarded the "China Service Model Case" at the China International Fair for Trade in Services (CIFTIS).

Advancing renminbi internationalization

From its inception, ABC Singapore Branch has been at the forefront of cross-border renminbi business development, playing a vital role in promoting renminbi internationalization.

It executed the Group's first cross-border renminbi settlement and became the first Chinese bank in Singapore to secure access to China’s Interbank Bond Market. It also participated in the first batch of China-Singapore cross-border renminbi loans.

In contributing to the development of the offshore renminbi market, the branch has issued offshore renminbi certificates of deposit and supported peer institutions in launching offshore renminbi bonds, helping to promote the steady and prudent advancement of renminbi internationalization.

This leadership has earned multiple accolades. In 2022, the branch was recognized as a leading participant in cross-border renminbi payment and settlement services, and in 2023, it was upgraded from an renminbi settlement agent to a direct participant of the Cross-Border Interbank Payment System (CIPS).

Honoring the past, navigating the future

As China and Singapore embark on an "All-Round High-Quality Future-Oriented Partnership,"ABC Singapore Branch is ready to enter a new phase of growth. By leveraging Singapore's market and geographical advantages while drawing on the Group's international and comprehensive financial capabilities, the branch is committed to delivering high-quality financial services that not only inject new vitality into China-Singapore economic and trade cooperation, but also enhance people-to-people exchanges.