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PRELIMINARY FINAL TERMS DATED 14 MAY 2014
FINAL TERMS
[] May 2014
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, SINGAPORE BRANCH
Issue of U.S.$[],000,000 [] per cent. Fixed Rate Notes due [] 20[]
under the U.S.$4,000,000,000
Euro Medium Term Note Programme
This document constitutes the Final Terms relating to the issue of Notes described herein.
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the Conditions)
set forth in the Offering Circular dated 19 November 2013 (the Offering Circular). This document
constitutes the Final Terms of the Notes described herein and must be read in conjunction with the Offering
Circular. Full information on the Issuer and the offer of the Notes is only available on the basis of the
combination of these Final Terms (including Annex 1 to these Final Terms) and the Offering Circular.
Where interest, discount income, prepayment fee, redemption premium or break cost is derived from any of
the Notes by any person who is not resident in Singapore and who carries on any operations in Singapore
through a permanent establishment in Singapore, the tax exemption available for qualifying debt securities
(subject to certain conditions) under the Income Tax Act, Chapter 134 of Singapore (the ITA), shall not
apply if such person acquires such Notes using the funds and profits of such person’s operations through a
permanent establishment in Singapore. Any person whose interest, discount income, prepayment fee,
redemption premium or break cost derived from the Notes is not exempt from tax (including for the reasons
described above) shall include such income in a return of income made under the ITA.

1. Issuer: Industrial and Commercial Bank of China Limited,
Singapore Branch
2. (a) Series Number: 04
(b) Tranche Number: 01
3. Specified Currency or Currencies: U.S. dollars
4. Aggregate Nominal Amount:
(a) Series: U.S.$[]
(b) Tranche: U.S.$[]
5. (a) Issue Price: [] per cent. of the Aggregate Nominal Amount
(b) Net Proceeds Approximately U.S.$[]
(c) Private banking rebates: Not Applicable
6. (a) Specified Denominations: U.S.$200,000 and integral multiples of U.S.$1,000
in excess thereof
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(b) Calculation Amount: U.S.$1,000
7. (a) Issue Date: [] 2014
(b) Interest Commencement Date: Issue Date
8. Maturity Date: [] 20[]
9. Interest Basis: [] per cent. Fixed Rate
(further particulars specified below)
10. Redemption/Payment Basis: Redemption at par
11. Change of Interest Basis or
Redemption/Payment Basis:
Not Applicable
12. Put/Call Options: Not Applicable
13. (a) Status of the Notes: Senior
(b) Date of internal authorisation from
Head Office of Industrial and
Commercial Bank of China Limited
to the Issuer for the issuance of the
Notes:
15 November 2013

14. Method of distribution: Syndicated
15. Listing: Singapore Exchange Securities Trading Limited
16. Additional Tax considerations: None
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
17. Fixed Rate Note Provisions Applicable
(a) Rate(s) of Interest: [] per cent. per annum payable semi-annually in
arrear
(b) Interest Payment Date(s): [] May and [] November in each year up to and
including the Maturity Date, with the first Interest
Payment Date being [] November 2014
(c) Fixed Coupon Amount(s):
(Applicable to Notes in
definitive form.)
U.S.$[] per Calculation Amount
(d) Broken Amount(s):
(Applicable to Notes in
definitive form.)
Not Applicable




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(e) Day Count Fraction: 30/360
(f) Determination Date(s): Not Applicable
(g) Other terms relating to the method of
calculating interest for Fixed Rate
Notes:
None
18. Floating Rate Note Provisions: Not Applicable
19. Zero Coupon Note Provisions: Not Applicable
PROVISIONS RELATING TO
REDEMPTION

20. Issuer Call: Not Applicable
21. Investor Put: Not Applicable
22. Final Redemption Amount: U.S.$1,000 per Calculation Amount
23. Early Redemption Amount payable on
redemption for taxation reasons or on event
of default and/or the method of calculating
the same (if required or if different from that
set out in Condition 7.5 (Redemption and
Purchase — Early Redemption Amounts)):
U.S.$1,000 per Calculation Amount
GENERAL PROVISIONS APPLICABLE TO THE NOTES
24. Form of Notes: Registered Global Note (U.S.$[] nominal amount)
registered in the name of a common depositary for
Euroclear and Clearstream, Luxembourg
25. Additional Financial Centre(s) or other
special provisions relating to Payment Days:
New York City, Singapore and London

26. Offshore Renminbi Centre(s): Not Applicable

27. Talons for future Coupons or Receipts to be
attached to Definitive Notes in bearer form
(and dates on which such Talons mature):
Not Applicable
28. Details relating to Instalment Notes:
(a) Instalment Amount(s): Not Applicable
(b) Instalment Date(s): Not Applicable
29. Redenomination applicable: Redenomination not applicable




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30. Other final terms: Not Applicable
31. Ratings: Moody’s: A1
32. Governing law: English
DISTRIBUTION
33. (a) If syndicated, names of Managers: J oint Lead Managers:
DBS Bank Ltd.
The Hongkong and Shanghai Banking Corporation
Limited
Industrial and Commercial Bank of China Limited,
Singapore Branch
Industrial and Commercial Bank of China (Asia)
Limited
ICBC International Securities Limited
J.P. Morgan (S.E.A.) Limited
Standard Chartered Bank
(b) Stabilising Manager(s) (if any): The Hongkong and Shanghai Banking Corporation
Limited
(c) Co-Managers: Agricultural Bank of China Limited Singapore
Branch
Standard Bank plc
34. If non-syndicated, name of relevant Dealer: Not Applicable
35. U.S. Selling Restrictions: Reg. S Category 1; TEFRA not applicable
36. Additional selling restrictions: The Hong Kong selling restriction appearing in the
Offering Circular shall be deleted in its entirety and
substituted with the following:
“Each Dealer has represented and agreed that:
(a) it has not offered or sold and will not offer or sell
in Hong Kong, by means of any document, any
Notes (except for Notes which are a “structured
product” as defined in the Securities and Futures
Ordinance (Cap. 571) of Hong Kong (SFO)) other
than (i) to “professional investors” as defined in the
SFO and any rules made under the SFO; or (ii) in
other circumstances which do not result in the




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document being a “prospectus” as defined in the
Companies (Winding Up and Miscellaneous
Provisions) Ordinance (Cap. 32) of Hong Kong or
which do not constitute an offer to the public within
the meaning of that Ordinance; and
(b) it has not issued or had in its possession for the
purposes of issue, and will not issue or have in its
possession for the purposes of issue, whether in
Hong Kong or elsewhere, any advertisement,
invitation or document relating to the Notes, which is
directed at, or the contents of which are likely to be
accessed or read by, the public of Hong Kong
(except if permitted to do so under the securities
laws of Hong Kong) other than with respect to Notes
which are or are intended to be disposed of only to
persons outside Hong Kong or only to “professional
investors” as defined in the SFO and any rules made
under the SFO.”

37. For Bearer Notes only: the date falling
immediately after the end of the Distribution
Compliance Period (as such term is defined
in Regulation S of the Securities Act):
Not Applicable
PURPOSE OF FINAL TERMS
These Final Terms comprise the final terms required for issue and admission to trading on the Singapore
Exchange Securities Trading Limited of the Notes described herein pursuant to the U.S.$4,000,000,000 Euro
Medium Term Note Programme of Industrial and Commercial Bank of China Limited, Singapore Branch.
OPERATIONAL INFORMATION
ISIN Code: XS1041751980
Common Code: 104175198
Any clearing system(s) other than Euroclear Bank
S.A./N.V. and Clearstream Banking, société
anonyme and the relevant identification number(s):
Not Applicable
Delivery: Delivery against payment
Names and addresses of additional Paying Agent(s)
(if any):
Not Applicable
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms.




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Signed on behalf of Industrial and Commercial Bank of China Limited, Singapore Branch


By: .....................................................
Duly authorised


































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ANNEX 1
SUPPLEMENTARY INFORMATION
RECENT DEVELOPMENTS
On 22 April 2014 and on 29 April 2014, the Bank published the Group’s 2013 Annual Report (including its
annual audited results for the year ended 31 December 2013) (the 2013 Annual Report) and released the
Group’s unaudited interim results for the first quarter ended 31 March 2014 (the 1Q2014 Results
Announcement, and together with the 2013 Annual Report, the Announcements) respectively on The Stock
Exchange of Hong Kong Limited (the HKEX) and on its website. The Announcements contain certain
updated disclosure of the Group, including (among others) a financial statements analysis, business
overview, risk management and capital management information in the 2013 Annual Report and an analysis
of the overall operating activities of the Group in the 1Q2014 Results Announcement. The Offering Circular
should be read and construed with the sections “Discussion and Analysis – Financial Statements Analysis”,
“Discussion and Analysis – Business Overview”, “Discussion and Analysis – Risk Management”,
“Discussion and Analysis – Capital Management”, “Discussion and Analysis – Other Information Disclosed
Pursuant to Regulatory Requirements”, “Details of Changes in Share Capital and Shareholding of Substantial
Shareholders – Particulars of Shareholding of the Top Ten Shareholders of the Bank” and “Significant
Events – Material Asset Acquisition, Sale and Merger” from the 2013 Annual Report and the sections “Brief
Analysis on Overall Operating Activities in the First Quarter”, “Number of Shareholders and Particulars of
Shareholding” and “Significant Events” from the 1Q2014 Results Announcement, each of which shall be
deemed to be incorporated in, and form part of, the Offering Circular and which shall be deemed to
supplement, modify or supercede the contents of the Offering Circular to the extent that a statement
contained therein is inconsistent with such contents.
Proposed acquisition of 20% of the shares in Bank SinoPac
Taiwan’s financial regulator indicated in the third meeting on the negotiation concerning the cross-straits
banking supervision held on 1 April 2013 that it will relax the limit of shareholding percentage of a single
bank from mainland PRC in a subsidiary bank of a Taiwan financial holdings company to a maximum of 20
per cent. On 2 April 2013, the Bank, SinoPac Financial Holdings Co., Ltd. (SinoPac Holdings) and Bank
SinoPac Co., Ltd (Bank SinoPac) entered into an agreement (the Subscription Agreement) for the Bank to
subscribe for twenty per cent. of the shares in SinoPac Holdings or Bank SinoPac. The transaction will be
carried out after the limit of shareholding percentage of a commercial bank from mainland PRC is relaxed to
twenty per cent. by Taiwan’s financial regulator. Upon such approval, the Bank will subscribe for the shares
in Bank Sinopac. If there is no revision to the relevant regulations of Taiwan on relaxing the aforesaid
shareholding percentage limit requirement to twenty per cent. or more within one year after the date of the
Subscription Agreement (such period, the selected transaction waiting period), the parties to the
Subscription Agreement are entitled to negotiate the extension of the selected transaction waiting period. The
basic subscription price for the transaction will be determined with reference to the net asset value stated in
the 2012 Interim Report of Bank SinoPac. The basic price for subscribing for 20 per cent. of the shares of
Bank SinoPac would be approximately NTD18.7 billion. After the transaction is approved by all necessary
regulatory authorities, the basic acquisition price will be adjusted to reflect the actual status of net assets of
Bank SinoPac before completion.
On 27 February 2014, the Bank entered into a supplemental agreement to the Subscription Agreement with
SinoPac Holdings and Bank SinoPac, according to which, the selected transaction waiting period will be
extended to 1 April 2015. Other provisions of the Subscription Agreement remain unchanged. The final
completion of the abovementioned transaction is subject to approval of the relevant regulatory authorities.





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Proposed acquisition of shares in Standard Bank PLC
On 29 January 2014, the Bank entered into a share purchase agreement (the Share Purchase Agreement)
with Standard Bank London Holdings Limited (SBLH) and Standard Bank Group Limited, pursuant to
which the Bank will acquire 60 per cent. of the existing issued shares in Standard Bank PLC (the Target
Bank and the shares, the Target Bank Shares) from SBLH. Standard Bank Group Limited entered into the
share purchase agreement as a guarantor of the performance of SBLH’s obligations under the Share Purchase
Agreement. In addition, the Bank also has a five-year option to acquire an additional twenty per cent. of the
existing issued shares in the Target Bank, which is exercisable from the second anniversary of the date that
the transaction is completed (the Call Option). SBLH will have a put option, exercisable six months
following the date on which the Bank’s Call Option is exercised, to require the Bank to purchase all of the
shares in the Target Bank held by SBLH and its related parties. According to the Share Purchase Agreement,
the purchase price for the transaction shall be determined by multiplying the net asset value of Target Bank
at the completion date by the acquisition percentage 60 per cent., less an agreed discount of U.S.$80 million.
Based on the net asset value of Target Bank as at the end of June 2013, the Bank estimates the consideration
for the transaction to be approximately U.S.$770 million. The final completion of the abovementioned
transaction is subject to approval of relevant regulatory authorities.

RISK FACTORS
The section “Risk Factors” of the Offering Circular shall be supplemented with the following:
The proposed acquisition of the Target Bank Shares and shares in Bank SinoPac is part of the Bank’s
expansion strategy. There are however, risks involved in expansion through the acquisition of shares in
other banks as there is no assurance that the acquisitions will prove to be a profitable investment by the
Bank.
The continuance of foreign ownership restrictions imposed by Taiwan’s financial regulator could result in
the proposed acquisition of 20% of the shares in Bank SinoPac being delayed beyond 1 April 2015 which
may result in the Bank incurring substantial expenses in connection with this acquisition which would in turn
adversely impact the return on its investment in these operations. There is no assurance that the Bank will be
successful in making any or further investments or acquisitions in Taiwan as it may not receive the relevant
authorisations and regulatory approvals necessary for such expansion.
One of the objectives of the Bank’s proposed acquisition of other banks such as the Target Bank is to take
advantage of the potential financial, strategic and operational synergies arising from the consolidation of
their banking business. The Bank may incur substantial costs and experience operational and financial
problems in trying to manage such new ventures. There is no assurance that the Bank will be able to generate
synergies from the acquisition of other banks such as the Target Bank due to the difficulties that may arise in
relation to the:
(a) retention of key personnel;
(b) integration and management of networks;
(c) operations and systems; and
(d) co-ordination of marketing efforts,
which could potentially restrict the Bank’s ability to transplant and adopt its business model into such other
banks. The acquisition of shares in other banks may also involve certain unforeseen contingent risks or latent
liabilities which may only become apparent after the acquisition of such shares is finalised.




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MANAGEMENT, DIRECTORS AND EMPLOYEES
The section “Management, Directors and Employees” of the Offering Circular shall be supplemented with
the following:
Directors
At the Second Extraordinary General Meeting of 2013 of the Bank held on 10 September 2013, Mr. Yi
Xiqun was elected as Independent Non-executive Director of the Bank and Mr. Fu Zhongjun was elected as
Non-executive Director of the Bank, and their qualifications were approved by CBRC in December 2013.
In addition, Mr. Luo Xi submitted his resignation to the Board of the Bank on 11 November 2013 and ceased
to act as Executive Director and Senior Executive Vice President of the Bank due to work changes. Mr.
Huan Huiwu submitted his resignation to the Board of the Bank on 31 December 2013 and ceased to act as
Non-executive Director of the Bank due to work changes. On 31 December 2013, Mr. Xu Shanda ceased to
act as Independent Non-executive Director of the Bank due to expiration of his term.
Fu Zhongjun, Non-executive Director
Mr. Fu has served as Non-executive Director of Industrial and Commercial Bank of China Limited since
December 2013. He joined the Ministry of Finance (MOF) in 1983, and once serviced as Secretary of
Organizational Communist Youth League of MOF, Deputy Chief and Chief of the Business and Finance
Department, Finance Supervision Department and Inspection and Supervision Department of MOF, Vice
Ombudsman of Shanghai Finance Ombudsman Office of MOF, Vice Ombudsman (person-in-charge) of
Anhui Finance Ombudsman Office of MOF, Associate Counsel and Counsel of Beijing Finance Ombudsman
Office of MOF. He served as Non-executive Director of Industrial and Commercial Bank of China Limited
and China Everbright Industry Group Limited. He graduated from Sichuan University and obtained a
Bachelor’s degree of Philosophy.
Yi Xiqun, I ndependent Non-executive Director
Mr. Yi has served as Independent Non-Executive Director of Industrial and Commercial Bank of China
Limited since December 2013. He once served as Deputy General Manager of Beijing Second Light Industry
Company, Deputy Director of Beijing Municipal Restructuring Economic System Office, Head of Xicheng
District of Beijing, Assistant to Mayor of Beijing and concurrently Director of the Foreign Economy and
Trade Committee, Director of Administrative Committee of Beijing Economic and Technological
Development Zone, member of Chinese People’s Political Consultative Committee Beijing Committee and
Chairman of the board of directors of Beijing Holdings Limited. He had been the Chairman of the board of
directors of Beijing Enterprises Holdings Limited, and the Chairman of the board of directors of Beijing
Enterprises Holdings Group Company Limited, the Chairman of the board of directors of Beijing Private
Equity Investment & Development Fund Management Co., Ltd., the Chairman of Bowei Capital and an
independent non-executive of China Merchants Bank. He concurrently acts Vice President of China
Association of Private Equity, Vice President and the first alternate Chairman of Beijing Association of
Private Equity, an Independent Non-executive Director of SOHO China Ltd., Zheshang Jinhui Trust Co.,
Ltd. and Asian Capital (Corporate Finance) Limited, the President of Capital Enterprises Association, the
Vice President of China Association for the Promotion of Industrial Development, and a member of Zhong
Guancun Advisory Committee. He graduated from Tsinghua University and obtained a Master’s degree in
Economics Management Engineering.





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Senior Management
At the meeting of the Board of Directors held on 17 December 2013, Mr. Wang Jingdong was appointed as
Senior Executive Vice President of the Bank, and his qualification was approved by CBRC on 30 December
2013.
Wang J ingdong, Senior Executive Vice President
Mr. Wang has served as Senior Executive Vice President of Industrial and Commercial Bank of China
Limited since December 2013. He joined the China Development Bank (CDB) in 1994 and serviced as
Deputy Head of Harbin Branch, Deputy Director of the Human Resources Department of the Head Office,
Head of Project Appraisal Department III of the Head Office, Head of Beijing Branch and Head of Human
Resources Department of the Head Office of CDB. He graduated from Huazhong Agricultural University
and got the bachelor’s degree of agronomy. He is a senior engineer.

AUDITORS
The Bank’s consolidated financial statements as of and for the year ended 31 December 2013, prepared in
accordance with IFRS and incorporated by reference in this Offering Circular, have been audited by KPMG,
independent auditors, in accordance with international auditing standards, as stated in its report appearing
therein.