Is the currency exchange rates good for the ICBC Koipy Dual Currency Credit card?

From ICBC "FEE SCHEDULE OF ICBC SINGAPORE CREDIT CARD":

7.1. UnionPay Dual Currency Credit Card (RMB/SGD)

• a. No administrative fee will be charged for Card Transactions in RMB & SGD.

• b. Non-RMB and non-SGD transaction: Card Transactions may be charged in the official currency of the country wherein such Card Transaction has taken place and converted into Singapore Dollars at such exchange rate determined by China UnionPay.

• c. Non-RMB and non-SGD transaction: The transaction will be subject to an administrative fee of 1.5% on the amount converted

and from UnionPay (https://www.unionpayintl.com/cardholderServ/ser...):

"The applicable exchange rates in UnionPay System are composited data from multiple market sources and subject to market-oriented principle."

I would perfer to go with other MCC with much more transparent rates and currencies available.