Connecting Asia PacificING Bank in Asia Pacific is part of ING Group covering Wholesale and Retail...

Connecting Asia Pacific

Wholesale Banking

Providing insights, views and information about business in Asia Pacific and beyond

Issue 1: July 2018

content

3 Introducing Asia PacificWhy Asia Pacific is at the forefront of change and innovation

5 ING in Asia PacificCommitted to the region

10 Belt and Road:an ambitious vision for development

6 China: a global game changerViews on China

13 ING in China:mainland China and

Hong Kong

14 Contact usin Asia Pacific

15 Our offering in Asia Pacific

context is straightforward: the region has enjoyed the benefits of globalisation in recent decades and built highly successful ex-port-orientated economies around globalised supply chains. Asia Pa-cific therefore believes in globalisation and is willing to use its political weight to support the system that has prevailed in recent decades. Indeed, China’s Belt and Road Initiative is a method of actively crea-ting new global trade corridors.

At the heart of Asia Pacific’s renaissance is a desire for progression. Companies from emerging market countries think about growth and opportunities in a different way to many firms from Europe and the US because they have a genuine motivation to prove themselves in the global economy. Most countries in Southeast Asia have more favourable demographics than Europe and the US: their youth is reflected in the region’s business dynamism.

Taking advantage of opportunitiesWhile Asia Pacific offers huge opportunities, it also presents signifi-cant challenges for global companies seeking to take advantage of its strong growth and attractive long-term outlook. Most obviously, the region is vast and incredibly diverse – it ranges from developed countries such as Australia and Japan to global goliaths China and India and fast growing smaller countries such as Vietnam. Each

Asia Pacific, and especially China, has been the world’s greatest growth driver for the past decade. Economies in the region are evolving from an export-orientated model to being increasingly driven by domestic consumption. Despite this transition, growth remains extremely robust from a global perspective: China is expec-ted to grow 6.5% in 2018, for example, while parts of Europe and US are experiencing much more modest growth. At the same time, Asia Pacific’s economies are fiercely competitive: the winners that emer-ge from this environment are highly innovative and entrepreneurial companies capable of taking on the best in the world. Chinese online giants Alibaba and Tencent have constructed remarkable domestic platforms that have helped to position them for global growth – both in Asia Pacific and increasingly in the US and Europe.

The transformation that has occurred across Asia in recent decades is starkly displayed in recent trade war rhetoric. The US, previously the exemplar of free trade and globalisation, now takes a more protective stance toward its domestic industries; China, in contrast, is promoting global free trade. Similarly, China has strengthened its alliance with the European Union to promote efforts to combat climate change while the US has withdrawn from the Paris Agreement.

The explanation for the changing role of Asia Pacific in this global

Introducing Asia PacificWhy Asia Pacific is at the forefront of change and innovation

Asia Pacific, and especially China, has been the world’s greatest growth driver for the past decade. Economies in the region are evolving from an export-orientated model to being increasingly driven by domestic consumption. Despite this transition, growth remains extre-mely robust from a global perspective: China is expected to grow 6.5% in 2018, for example, while parts of the developed world are still suffering from flat growth.

Gerrit Stoelinga Regional head ING Wholesale Banking Asia Pacific

introduction

Belt and Road: an ambitious vision for development

Contents ING in Asia Pacific

China: a global game changer

Introducing Asia Pacific by Gerrit Stoelinga

Our offeringin Asia Pacific

ING in China: mainland China and Hong Kong

Contact us in Asia Pacific

economy is at a different stage of development and has varying characteristics.

There is a crucial need to understand each local environment from a legal, regulatory and financial markets perspective and navigate different cultures and ways of doing business. ING has been active in Asia Pacific for over 30 years and now has 17 offices across 14 mar-kets in the region; a broader presence than most European peers. ING is therefore well placed to give clients the benefit of its experience and insights.

Furthermore, ING’s approach to Asia Pacific is highly focused: we choose to work with clients in specific sectors where we have global knowledge and expertise. For our selected clients, we are willing to make our balance sheet available to support their growth and lever-age our global network to help them achieve their strategic objecti-ves.

A client-centric approachOne important differentiator for ING is our proven business model.

In the immediate aftermath of the financial crisis, ING reorganised itself internally. Unlike many banks, ING completed the process early and has since been focused on growth and serving its clients; there is capacity to provide balance sheet commitments where necessary.

Our focus on specific sectors, including TMT, energy, infrastructure, financial institutions, commodities, and real estate – means that we can offer a comprehensive and better-informed service to our clients than many other banks. In addition, we have a strong track record in picking the right clients and deals. This has been especially valuable in volatile sectors such as commodities and energy where low oil prices have prompted some banks to scale down their operations.

For Asia Pacific inbound clients – such as European firms expanding into China – ING offers the reassurance of a consistent service model and similar products around the globe. Clients can manage their relationship with the bank through a relationship manager, either at parent or subsidiary level. And ING’s lending relationship with clients spans the world: our balance sheet commitment can be made available wherever it delivers the greatest benefit for them.

introduction

In addition, for Asia Pacific interregional clients – such as Chinese companies entering Australia – our understanding of their credit domestically makes it easier for us to lend overseas. And, just like in-ternational companies expanding in China, Chinese companies going worldwide for the first time get the benefits of consistent service and our network function.

The future is AsianMany people outside Asia Pacific fail to understand the scale of the transformation that has already occurred in the region and the accelerating pace of change and innovation. China, for example, has embraced digital faster than other countries– its e-commerce models have leapfrogged Europe and the US; almost everyone pays only by using their smartphone.

The energy in Asia is unmatched in most parts of the world. It is an exciting place to do business, and while challenging it is exceptionally rewarding. It is also a region that rewards commitment and time ta-ken to understand its intricacies. ING is here to help its clients in that process.








Ulaanbaatar

Hanoi

Bangkok Manila

LabuanKuala Lumpur

IndiaMumbai

Singapore

Jakarta

Sydney

Beijing

Hong Kong

Shanghai

Taipei

SeoulTokyo

Legend

ING Bank in Asia Pacific is part of ING Group covering Wholesale and Retail Banking in Asia Pacific. Globally, ING Wholesale Banking has an international network in more than 40 countries with key positions in specialised industry lending and Financial Markets.

ING Wholesale Banking is present and active in 14 markets in the Asia Pacific, namely Australia, China Mainland, Taiwan, Hong Kong SAR, India, Indonesia, Japan, Malaysia, Mongolia, the Philip-pines, Singapore, South Korea, Thailand and Vietnam. ING’s presence in Asia also includes a 13% stake in Bank of Beijing, China; a 3.74% stake in Kotak Mahindra Bank, India and a 30% stake in TMB Bank, Thailand as well as a 100% stake in ING Direct in Australia.

ING in Asia PacificCommitted to the region

1985

1987

ING sets foot in Asia Pacific with opening branches in Hong Kong

and Tokyo

2005

Singapore office opened, ING’s regional headquarters

1990Manila, Beijing and Jakarta

offices added 1991Seoul and Taipei offices opened1992

Shanghai and Kuala Lumpur offices opened

1996Universal banking license awarded to Manila office

Acquired 19.9% share in Bank of Beijing, which is now 13% after its IPO and a number of private placements

2006Bangkok representative

office opened

2012

2008Opened representative office in Mongolia, as first international

bank

2013

A 6.4% stake in Kotak Mahindra Bank was acquired following the merger of ING Vysya Bank

Beijing office upgraded to full-service branch

1997Wholesale Banking Sydney

office opened

2007Acquired a 30% stake in TMB Bank

Hanoi representative office opened

ING Business Shared Services opened in Manila offering processing services

for WB branches globally 20152016

Securities branch opened in Seoul.

Stake in Kotak Mahindra reduced to 3.74%








Wholese Banking cities

China:a global game changer

The Chinese economy has been the world’s greatest success story in recent decades. The future looks even brighter as its businesses expand globally and its people become more prosperous, according to Aart Jan den Hartog, country manager, Greater China and Mongolia and Arthur Zou, Shanghai branch manager at ING.

Aart Jan den Hartog

Arthur Zou

views on China

The position and role of China in the world has changed beyond recognition in the past four decades – and the pace of change is accelerating. Just 15 years ago, when China became a member of the World Trade Organisation, it was just one among many large emer-ging market countries. Now, China is an established economic power – the World Bank anticipates that it will contribute 35.2% of global GDP growth between 2017 and 20191 – and a major driver of global trends: its headline economic data affects market sentiment worldwide and the entire globe watched the 19th party Congress for clues about China’s future direction.

At the same time, there has been a significant shift not just in the magnitude of China’s economy but in terms of its characteristics. Export industries continue to be important to China’s economy. However, overseas investment by Chinese companies is now significant: in 2016 China became the world’s second-largest source of outbound foreign direct investment2. Moreover, China is upgrading the types of companies it targets: high-technology industries are becoming much more important. Indeed, China is leading globally in a number of sectors that are critical to the future of the global economy, including electric cars, smartphones, and high-speed trains.

China has also become a powerhouse in the new world of e-com-merce – both in processes and content. Companies like WeChat and Alipay are beginning to enjoy success in the US and Europe: further partnerships are likely to be agreed in the coming years to expand their influence. China has shown skill in perfecting ideas created else-where. For example, bike sharing was originally conceived in Amsterdam in the 1960s, but two Chinese companies – Mobike and Ofo – now have market capitalisations of US$2 billion and are rapidly growing around the world.

The great leap forward from industrial producer to innovatorHow has China been able to achieve a transition from a country focused on industrial exports to one at the forefront of innovation? Part of the answer is its sheer size: with a population of approxima-tely 1.4 billion people3, China is a perfect laboratory for new ideas in e-commerce and other markets. Furthermore, China is an extremely competitive market. Its companies have shown themselves to be excellent at process innovation and the implementation of complex technology – creativity and innovation are now driving most of China’s fastest growing companies.

The historically rapid speed of development of China’s economy – a true great leap forward – has also supercharged its dynamism. For example, while mobile communications went through multiple iterations in most markets, China leapfrogged many early technolo-gies and was not hindered by obsolete infrastructure. Another impor-tant characteristic of China’s market economy is its winner-takes-all nature. Most sectors develop with an initial bout of intense compe-tition, which following consolidation invariably produces a national champion. While companies must have deep pockets to compete in this way – China’s Uber competitor Didi Chuxing raised US$5.5 billion in April 2017, valuing it at more than US$50 billion4 – it tends to produce firms with an emphasis on continuous innovation.

Among China’s companies there also tends to be a distinct philosop-hical approach to growth and competition. For example, European companies conduct intensive planning and analysis of existing mar-kets and then devise detailed plans with a five-year horizon and clear goals for execution throughout that timeline. In contrast, many Chi-nese companies spot an opportunity and seek to implement a plan immediately. If it does not bear fruit rapidly, they are flexible and will

quickly adapt to stay ahead of their competitors. Chinese entrepre-neurs have a higher tolerance of chaos than those in the West and are willing to jump into new markets even if there are many moving parts and the outcome is unknown. Many successful emerging com-panies in China have dramatically changed their business model in this way, helping them not only to survive but to thrive.

A farsighted approach by governmentChina’s government is engaged in long-term planning on a scale seldom seen in the West. Initiatives such as the liberalisation of financial markets and the opening up of China’s capital account have a timescale of many decades. Similarly, Made in China 2025, a US$300 billion plan to boost manufacturing innovation and pro-mote home-grown products, sets out clear goals for key industries in the country, such as computer chips and electric cars production. Compared to economic planning in much of the West, it is extremely prescriptive, detailing specific geographical markets that industries should seek to enter and innovations that should be produced.

The Chinese government is also adept at shaping private investment overseas, by requiring companies to seek government approval to use renminbi to acquire foreign assets and, more recently, increasing its scrutiny of the use of foreign currency held offshore for acquisiti-ons. While the government has been reigning in speculative acquisiti-ons and tightening controls on outbound foreign direct investments, acquisitions which meet the Made in China 2025 and Belt and Road Initiative (BRI) strategies are supported.

China’s commitment to the BRI is even more long-term and ambi-tious than Made in China 2025. It will reshape the international trade landscape by promoting enhanced connectivity, trade flows and

views on China








investment opportunities between China and 65 mostly developing countries (representing 62% of the world’s population and 30% of global GDP). Initially seen by many as primarily an infrastructure plan, BRI is a strategic push to dominate trading routes across a large part of the world and establish China as a global superpower.

To a large extent, BRI highlights the evolution of China’s trade policy in recent decades. In the 1990s and 2000s, much of China’s efforts were focused on securing access to commodities, oil and gas and agricultural resources. Now, China is positioning itself geopolitically and forging alliances that will enable it to expand its trading relati-onships. The advantage of BRI is that it will lead to local development – especially in countries that have been largely neglected because of high levels of risk – bringing the world closer together. The advan-tage for China is that it will create new markets for its sophisticated products such as construction machinery and high-speed rail.

A new geopolitical powerChina’s economic power is increasingly reflected in its political role globally. Most recently, China has been able to fill the vacuum created by the US’s focus on domestic concerns. In particular, it has stepped up to act as a protector of global trade and environmental standards: in June 2017, EU and Chinese leaders reaffirmed their commitment to implementing the 2015 Paris Agreement on climate change and, as major energy consumers and importers, highlighted the importance of fostering cooperation in their energy policies.5

China’s support of free-trade and environmental controls has strong roots. Most obviously, China has benefited from globalisation, which has helped its economy to expand rapidly since reforms began in

1979. At the same time, development has inevitably had major en-vironmental consequences in China. In recent years addressing these problems has risen up the political agenda and government has acted: in the past year 40% of industrial plants have been fined for breaking pollution rules; government actions to encourage people to replace coal with liquefied natural gas have also had a major impact on domestic markets.

The increased cooperation between China and the European Union (EU) with regard to the Paris agreement on climate change is there-fore entirely in keeping with China’s focus on environmental stan-dards. To secure agreement on this important issue, China has been willing to improve access to its domestic market for European com-panies, addressing a long-running area of contention. A secondary benefit for China is that it has a leadership position in renewables technology such as wind turbines and solar panels and will therefore benefit as fossil fuels energy production declines.

Although the relationship between China and the EU has become closer in the past year, Europe has long been important to the deve-lopment of China’s economy. In particular, joint ventures in the auto sector have helped to make the country the largest auto market in the world6. The development of the auto sector reflects broader changes in China’s economy: initially joint ventures began with large-ly outdated technology; now China is at the forefront of the electric vehicles market and has announced plans to phase out combustion engines. Nevertheless, Europe will continue to have a role to play in China in areas such as quality and general management, as well as in innovation and technical expertise.

views on China








A further advantage in the short term is the absence of an open capital account, which means that China cannot import any econo-mic shocks. Furthermore, some observers also believe that China’s corporate leverage may now have peaked10 and that government campaigns to cut debt are beginning to have a positive impact11.

Understanding China’s futureWith almost three decades of experience in China, ING Wholesale Banking understands this dynamic country. For more information about new developments in China, or our wide range of capabilities for state-owned and private-owned enterprises, financial institutions and multinational clients, please visit our website.

1. http://www.businessinsider.com/global-gdp-growth-contributions-chart-2017-6/?IR=T

2. http://unctad.org/en/PublicationsLibrary/wir2017_en.pdf 3. https://www.un.org/development/desa/publications/world-population-pros-

pects-the-2017-revision.html4. https://www.cnbc.com/2017/04/28/didi-chuxing-raises-funding-round-valuati-

on-china.html5. http://europa.eu/rapid/press-release_IP-17-1524_en.htm6. https://mmta.co.uk/2017/06/22/chinese-automotive-market-much-just-large/7. https://data.worldbank.org/country/china 8. https://www.iif.com/publication/country-report/china-spotlight-key-corpora-

te-debt-its-productivity 9. http://www.imf.org/en/Publications/WP/Issues/2017/11/27/Resolving-China-Zom-

bies-Tackling-Debt-and-Raising-Productivity-4543210. https://www.iif.com/publication/country-report/china-spotlight-corporate-lever-

age-may-have-peaked11. https://www.reuters.com/article/china-economy-finance/update-1-chinas-cam-

paign-to-cut-debt-enters-new-stage-stock-exchange-official-idUSL4N1OI223

China’s auto sector also demonstrates an important principal that applies to the country’s companies when they expand overseas. To outside observers, the prices paid for acquisitions in Western markets don’t make sense – and cannot be matched by private equity firms, for example. However, Chinese companies are aware that they can leverage the technology they acquire in their enormous domestic market, which makes the payback for any acquisition appear much more compelling.

A solid economySince China switched its economic emphasis from exports towards creating a more domestic consumption-driven model, its economic growth has slowed. Nevertheless, in 2017, its economy grew at 6.5%7 – significantly higher than other major economies. While there have been concerns about the level of debt in China’s economy – at 300% of GDP, its total debt is the highest among the major economies8– the government has made a concerted effort to address this problem by squeezing out the shadow-banking sector. It seems certain that the government will continue to tackle the debt issue effectively.

Crucial to this endeavour is the need to direct capital to where it can be productive. There are a number of nonviable so called zombie companies that are kept afloat largely to maintain employment (although these only account for 6% of overall corporate debt9). As capital is allocated to more productive companies, it is possible that GDP growth may slow while the quality of growth improves.

One encouraging development for the future of China’s economy is the greater coordination between China’s regulators, which are now working in unison to reform and strengthen the domestic economy.

views on China

https://www.ingwb.com/network-offices/asia/china

http://www.businessinsider.com/global

http://unctad.org/en/PublicationsLibrary/wir2017_en.pdf

https://www.un.org/development/desa/publications/world-population-prospects-the-2017-revision.html

https://www.un.org/development/desa/publications/world-population-prospects-the-2017-revision.html

https://www.cnbc.com/2017/04/28/didi-chuxing-raises-funding-round-valuation-china.html

https://www.cnbc.com/2017/04/28/didi-chuxing-raises-funding-round-valuation-china.html

http://europa.eu/rapid/press-release_IP-17-1524_en.htm

https://mmta.co.uk/2017/06/22/chinese

https://data.worldbank.org/country/china

https://www.iif.com/publication/country-report/china-spotlight-key-corporate-debt-its-productivity

https://www.iif.com/publication/country-report/china-spotlight-key-corporate-debt-its-productivity

http://www.imf.org/en/Publications/WP/Issues/2017/11/27/Resolving

https://www.iif.com/publication/country-report/china

https://www.reuters.com/article/china-economy-finance/update

Belt and Road:an ambitious vision for development

China’s cooperation and connectivity plan will drive huge infrastructure investment across a large swathe of the world, spurring economic growth across a variety of sectors, and profoundly altering the world’s trade routes, writes Iris Pang, economist for Greater China.

Iris Pang

China’s Belt and Road initiative (BRI) is set to transform a large part of the world. First proposed by Chinese President Xi Jinping in 2013, this long-term project is among the most ambitious ever conceived. It covers 65 countries (representing 60% of the world’s population and 30% of global GDP), including not just China’s nearest neighbours but also countries in South Asia, the Middle East, Africa and even Central and Eastern Europe.

BRI land corridors are known as the belt and include development of overland roads, bridges, tunnels, rail routes, oil and natural gas pipeli-nes, and other infrastructure projects. Belt corridors will connect China with Europe via Central Asia and Russia; the Persian Gulf and the Mediterranean Sea via Central and Western Asia; and Southeast Asia, South Asia and the Indian Ocean. Sea-based corridors are described as the road and include development of ports; the road extends from China’s coastal ports to the South China Sea, Indian Ocean, Africa and Europe and the South Pacific Ocean.

BRI will benefit China, by creating enormous opportunities for its construction, energy, infrastructure sectors outside its borders. By improving connectivity and spurring economic growth in target countries, it will also create new markets for companies in sectors such as telecommunications, automobiles, chemicals, engineering machinery, metals and textiles. However, the rewards for countries that are part of BRI will also be significant: many of the 65 countries that are part of the plan are among the poorest in the world and face substantial hurdles in accelerating their development. Accepting China’s growing regional leadership is widely thought to be an acceptable price to pay for the opportunities on offer.

Belt and Road








HanoiMumbai

Singapore

Jakarta

Shanghai

Almaty

Russia

Turkey

Mexico

Xi’an

Lanzhou

UrumqiHuoerguosi

Bisjkek

Dusjanbe

Istanbul

Athene

Rotterdam

Moscow

Venice

KarachiDubai

Kuala Lumpur

Kolkatta

Colombo

Duisburg

Beijing

FuzhouQuanzhou

Guangzhou

Hong Kong

Lanzhou

Sea route + cross road

Land route + cross road

Node - City

ING presence country and city

Legend

Zhanjiang

Haikou

Beihai

Unfounded concernsThe scale of BRI could have profound political implications in Asia and further afield. For the developing countries that are part of BRI, the investment, infrastructure and trade flows that it brings are clearly welcome and will strengthen their relationships with China, boosting the country’s soft power. However, other regional powers that are not part of the project – such as the US and Japan – have so far taken a more defensive position regarding BRI; concerns have been raised about China’s growing influence in Asia, Central and Eastern Europe and Africa.

One specific concern is that as China is the main creditor for BRI projects, countries that are part of the plan will incur significant debt to China. Should they find themselves unable to service that debt, China’s leverage over them will increase further.

However, there is no evidence that such a scenario could occur. The Chinese government will make an estimated US$40 billion of equity investments through its Silk Road Fund and is eager to earn a return on its investments. As importantly, the Asian Infrastructure Invest-ment Bank will be a major investor in BRI. While it was originally proposed by China, it has 56 member states and is renowned for its robust corporate governance: the creditworthiness of its investments will be thoroughly scrutinised.

The hope is that Japan, and even the US, will eventually be won over by the benefits of BRI and will participate. In December 2017, Japan announced that it would financially support BRI private-sector partnerships as part of an effort to improve bilateral ties with China. Cooperation will centre on the environmental sector, industrial modernisation and logistics.1

Belt and Road








natural resources. By increasing affluence and reach the consumpti-on cycle faster, BRI should lead to the rapid development of the retail and tourism sectors, for example.

In other regions, such as Africa and the Middle East, BRI will provide countries with the opportunity to link their economies more closely with China, which has grown significantly faster than its traditional trade partners in Europe in recent decades.

In particular, China sees enormous opportunities in Africa, where development has been sporadic in the past. By significantly incre-asing investment and providing a consistent source of funds, China believes that Africa will be able to reach middle income status in just 10 to 15 years – far quicker than many Western countries estimate. In the Middle East, the pace of development will be dictated by the extent to which the region’s geopolitical instability can be managed: China is working with countries across the region to create greater security and facilitate investment.

1. www.reuters.com/article/us-japan-china-beltandroad/japan-to-help-finance-chi-nas-belt-and-road-projects-nikkei-idUSKBN1E003M

2. www.qz.com/996255/kenyas-3-2-billion-nairobi-mombasa-rail-line-opens-with-help-from-china

3. www.reuters.com/article/us-russia-lng-novatek/russia-offers-to-sell-gas-to-saudi-arabia-from-yamal-lng-idUSKBN1E22HR

Landmark achievementsWhile BRI is a multi-decade plan, it has already delivered a number of significant projects that will facilitate long-term economic growth. These include:

In June 2017, the US$3.2 billion 470km Nairobi to Mombasa railway opened. Eventually it will extend to Uganda, Rwanda, South Sudan and Ethiopia, placing Kenya at the centre of an East African rail network.2

In December 2017, Russia launched the first phase of the US$27 billion Yamal liquefied natural gas (LNG) plant in Siberia, with support from China’s China National Petroleum Corporation (CNPC). Other phases are due to be on-stream in 2018 and 2019.3 The project will lower energy costs for countries taking part in BRI while providing valuable new export markets for Russia.

Chinese banks are helping to finance the US$3.4 billion 2.4 gigawatt Hassyan clean coal fired power station plant in Dubai as part of BRI.

All projects undertaken as part of BRI have to meet environmental and social standards and safeguards; as a result, investment in po-wer generation, for example, will be focused on renewables, LNG and clean coal.

Long-term opportunitiesBy stimulating economic growth and creating new jobs in target countries (initially in the building and construction sectors), BRI will accelerate many trends that are already underway in the developing world, such as urbanisation. The majority of the countries targeted by BRI are currently in the middle of an emerging growth cycle and need to broaden their economic base beyond manufacturing and

Belt and Road








http://www.reuters.com/article/us-japan-china-beltandroad/japan-to-help-finance-chinas-belt-and-road-projects-nikkei-idUSKBN1E003M

http://www.reuters.com/article/us-japan-china-beltandroad/japan-to-help-finance-chinas-belt-and-road-projects-nikkei-idUSKBN1E003M

http://www.qz.com/996255/kenyas-3-2-billion-nairobi-mombasa-rail-line-opens-with-help-from-china

http://www.qz.com/996255/kenyas-3-2-billion-nairobi-mombasa-rail-line-opens-with-help-from-china

http://www.reuters.com/article/us-russia-lng-novatek/russia-offers-to-sell-gas-to-saudi-arabia-from-yamal-lng-idUSKBN1E22HR

http://www.reuters.com/article/us-russia-lng-novatek/russia-offers-to-sell-gas-to-saudi-arabia-from-yamal-lng-idUSKBN1E22HR

Arthur ZouBranch manager, Shanghai

19/F, Shanghai World Financial Center,

100 Century Avenue,

Shanghai, 200120

China


About us

• ING started its banking operations in China in 1990 and fully integrated the Hong Kong and mainland China platforms in 2010

• Beijing representative office was upgraded into a full-service branch in August 2015

• Strategic partnership with Bank of Beijing since 2005

• Seamless connectivity with our European franchise

Our purpose

• Helping the real economy of China and providing comprehensive financial products to Chinese clients to meet their business needs

• Servicing ING’s international network clients in China

• Connecting Chinese companies to ING’s internati-onal network and capabilities. ING is present and active in more than 25 countries along the Belt and Road Initiative (BRI)

Our locations

Jan HuBranch manager, Beijing

Room 1510, Tower 1,

Landmark Building

8 North Dongsanhuan Road

100004 Beijing

China

ShanghaiPresent since: 1992

Hong KongPresent since: 1985

BeijingPresent since: 1990

Aart Jan den HartogCountry manager, Greater China & Mongolia

Chief executive, Hong Kong branch

Level 8, Three Pacific Place

1 Queen’s Road East

Hong Kong

Lending servicesBridge Loans

Term Loans

Acquisition Finance

Structured Lending

Loan Syndications

Revolving Credit Facility

Transaction servicesTrade Finance Services

(import/export)

Working Capital Solutions

Global Liquidity Management

(BMG) (marketing only)

Financial marketsTreasury, Deposit, CD, Repo

FX and FX Option / rate

Credit Derivatives

Equities Derivatives

Structured Products

Corporate financeMergers & Acquisitions

Divestments

Strategic Alliances

Restructuring

Valuations

Technical Assistance

Fairness Opinion

Landmark deals 2016

Factsheet Mainland China and Hong Kong

The Export-Import Bank of China Bank

US$3.27bn

Equivalent dual ccy multi tranche transaction

SpeedCast International Limited US$385m Structured finance syndication

China Development Bank

€1bn 4-year senior unsecured green bond

Shandong Qingyuan Group Co US$650m

Chinese offshore syndicated structured commodity finance facility

Shanghai

Beijing

Hong Kong181Employees

Bright Food (Group) Co Ltd

USD$800m

EUR bond








Contact usin Asia Pacific

Jan HuBranch manager, Beijing

[email protected]

Beijing

Arthur ZouBranch manager, Shanghai

[email protected]

ShanghaiHong Kong

Aart Jan den HartogCountry manager, Greater China &

Mongolia

Chief executive, Hong Kong Branch

[email protected]

Sophia ChangBranch manager, Taipei &

Head of Corporate Clients, Taiwan

[email protected]

Taiwan

Hyun Jong HoonCountry manager, South Korea

[email protected]

South Korea

Hoshiya TetsuoCountry manager &

Head of Clients, Japan

[email protected]

JapanMongolia

Erik VersavelCountry representative,

Mongolia

[email protected]

Robertus KuswendriHead of Corporate Clients,

Indonesia

[email protected]

Indonesia

Madeline LeongCountry manager &

Head of Corporate Clients, Malaysia

[email protected]

MalaysiaSingapore

Catherine LowCountry manager, Singapore

[email protected]

Hans B. SicatCountry manager, Philippines

[email protected]

Philippines

Charles HoHead of Wholesale Banking,

Australia

[email protected]

Australia

Do Thu LyCountry head, Vietnam

[email protected]

Vietnam

Probal BanerjeeHead of Corporate Clients, India

[email protected]

India

Gerrit StoelingaRegional head Asia Pacific

[email protected]

Asia Pacific









Australia MainlandChina Hongkong India Indonesia Japan Korea Malaysia Mongolia Philippines Singapore Taiwan Thailand Vietnam

Sectors � � � � � � � � � � � � � �

Diversified Lending � � � � � � � � � � � � � �

Structured Diversified Lending � � � � � � � � � � � � � �

Sustainable Finance � � � � � � � � � � � � � �

Structured Export Finance � � � � � � � � � � � � � �

Structured Acquisition Finance � � � � � � � � � � � � � �

Trade Finance Services � � � � � � � � � �

Working Capital Solutions � � � � � � � � � �

PCM (serviced in Europe) � � � � � � �

Corporate Finance � � � � � � � � � � � � � �

Debt Capital Markets � � � � � � � � � � � � � �

Capital Structuring & Advisory � � � � � � � � � � � � � �

Syndicated Finance � � � � � � � � � � � � � �

Financial Markets � � � � � � � � � � �

Commodities, Food & AgricultureDiversified CorporatesEnergyTMT & HealthcareTransportation, Logistics and AutomotiveFinancial InstitutionsReal Estate, Infrastructure & Contractors

Diversified LendingStructured Diversified LendingSustainable FinanceStructured Export FinanceStructured Acquisition FinanceTransaction Services

Corporate FinanceDebt Capital MarketsCapital Structuring & AdvisorySyndicated Finance

TreasuryFX, MM & DerivativesEquity and Credit DerivativesResearch

Sectors Lending and Transaction Services

Strategic Products

Financial Markets

Hong Kong SouthKorea








Connecting Asia PacificING Bank in Asia Pacific is part of ING Group covering Wholesale and Retail...

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Transcript of Connecting Asia PacificING Bank in Asia Pacific is part of ING Group covering Wholesale and Retail...