Recently, China Construction Bank Corporation (CCB) collaborated with China Galaxy International Securities (Singapore) Private Limited, also known as Galaxy Overseas, to complete the first cross-border transaction and custody service for investment in Chinese local government bonds under the China-UK counter bond framework. This business leveraged the counter bond channel, with CCB's Singapore branch providing local custody services for Galaxy Overseas, marking a new milestone in cross-border trading and custody of local government bonds under this mechanism.

The China-UK counter bond is a cross-border bond market transaction service hosted by CCB under the framework of the China-UK Economic and Financial Dialogue. Acting as the overseas custody service provider for this deal, CCB's Singapore branch capitalized on its strategic position in Singapore's international financial hub and its robust local custody capabilities, delivering comprehensive one-stop services to Galaxy Overseas, including account opening, bond settlement, registration confirmation, and holdings reporting. This provided secure, efficient, and convenient localized support for cross-border bond investment.

This transaction formally incorporates domestic local government bonds into the China-UK counter bond cross-border system, helping to enrich the supply of high-quality RMB assets for overseas investors, enhance international awareness of local government bonds, and offer more diverse investment options for foreign participants in China's bond market.

Moving forward, CCB plans to continue expanding the scope of the China-UK counter bond business, focusing on the diverse investment needs of overseas clients. The bank will strengthen innovation in cross-border bond products and custody services, fully leverage the advantages of its overseas branches such as Singapore, and continuously refine its service framework to contribute to the high-level opening of China's bond market and the internationalization of the RMB.