ICC China Commission on Banking

zhuzijun / 2019-03-12


Established in 1931, ICC Banking Commission is one of the largest and most active commissions of the International Chamber of Commerce (ICC) with more than 600 members, the ICC Banking Commission — the largest commission of ICC, the World Business Organisation — has rightly gained a reputation as the most authoritative voice in the field of trade finance. ICC Banking Commission is mainly engaged in rule and policy making, publications and market intelligence, dispute resolution, education and certification, specialized training and events.


ICC Banking Commission produces universally accepted rules and guidelines for international banking practice, including UCP600, URDG758, ISP98, etc. ICC rules on documentary credits, UCP 600, are the most successful privately drafted rules for trade ever developed, serving as the basis of USD 2 trillion trade transactions a year.


In addition to its Spring Annual Meeting (500+ participants) and the Autumn Technical Meeting(200+ participants) gathering international delegates every six months, the ICC Banking Commission organizes regular seminars and conferences around the world, in partnerships with ICC National Committees and other sponsors.


In November 2012, ICC Banking Commission established new governance including the Chairman, Advisory Board, and Executive Committee. The current Chairman is Daniel Schmand, Global Head of Trade Finance at Deutsche Bank. The Advisory Board consists of 12 members including Ms. Liu Yunfei, Deputy General Manager of the Global Trade Services Department of Bank of China, which is responsible for providing advises on development and execution of goals and strategy, and guiding prioritization of the commission’s work program. The Executive Committee consists of 12 members, including Ms. Xu Jun, Deputy General Manager of Global Trade Services Department of Bank of China Jiangsu Branch, which is responsible for executing work program and strategy, and providing subject matter expertise. ICC Banking Commission now has dozens of task forces and working groups, including the Digitalization Working Group, Forfaiting Task Force, Guarantee Task Force, Supply Chain Finance Forum, Financial Crime Risk and Policy Group, ICC Trade Register Working Group, Legal Committee, Wolfsberg Principle Guidance Drafting Group, Market Intelligence Working Group, etc.  The commission will set up new working groups according to the latest development in the banking industry. The secretariat of ICC Banking Commission is located at the headquarters of the International Chamber of Commerce with five staff members.


ICC China Banking commission was established in 1997. It has more than 50 member companies including major domestic state-owned policies and commercial banks, joint-stock banks, city commercial banks, rural commercial banks, and law firms, etc. The governance of ICC China Banking Commission is appointed for a two-year term. The current Chairman of ICC China Banking Commission is Chen Siqing, Chairman of Bank of China. The Executive Chairman is Lin Jingzhen, Vice President of Bank of China.


According to the requests of member companies, ICC China Banking Commission has established three working mechanisms including overseas working group, documentary business center working group and compliance working group. It also has four expert groups: the letter of credit expert group, the letter of guarantee expert group, the factoring & factoring expert group and translation expert group, currently consisting 64 experts from 22 banks. The main tasks of ICC China Banking Commission include: recommending experts to ICC Banking Commission, coordinating domestic banks to participate in ICC Banking Commission global meetings, organizing industry exchange meetings and seminars, facilitating international rules discussion and communication, providing services on international dispute consultation, inter-bank data exchange, training and publications, etc.