Wison Engineering recently secured a USD 283 million cross-border letter of guarantee for a Middle East project of a global oil and gas company. The guarantee was led by ICBC Shanghai Branch, co-issued by Bank of Communications Shanghai Branch and SPD Bank Shanghai Branch, with HSBC and ICBC as re-issuing banks. This transaction successfully established a cross-border syndicated issuance model for large-scale guarantees. It also marks another concrete step by banks and enterprises to jointly advance the Belt and Road Initiative and support Chinese engineering firms in going global.