The Industrial and Commercial Bank of China is reportedly planning to sell about 11 billion yuan, some 1.8 billion U.S dollars, of asset-backed securities (ABS).

It is said the securities will be backed by an underlying asset pool drawn from loans to the railway and transport sectors.

Borrowers include China Railway Construction Corporation (CRCC) and its subsidiaries, as well as firms established by CRCC together with provincial governments.

The release date of the securities has not yet been determined.