Invest Offshore

Tag: Industrial and Commercial Bank of China

  • China Injects Nearly $56 Billion Into Banks as the Credit Engine Collapses

    China Injects Nearly $56 Billion Into Banks as the Credit Engine Collapses

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    Aaron
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    Beijing is pouring fresh capital into its biggest banks and insurers. The problem is not a shortage of money. The problem is that increasingly few Chinese businesses and households want to borrow it. China has reached for the financial fire hose again. Beijing is orchestrating a roughly 360 billion yuan—about US$54 billion, or nearly $56…

  • China’s ICBC Sets Up Global Asset Management Company

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    Aaron
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    The banking giant’s offshore investment subsidiary is going global, restructuring to serve both domestic and foreign investors. The Industrial and Commercial Bank of China, the world’s biggest bank by assets, is rebranding and restructuring its offshore investment subsidiary into a global asset management company, an executive at the company confirmed. The new Hong Kong-based entity,…

  • China’s Gold Market

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    Aaron
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    World Gold Council and ICBC Enter Into Strategic Partnership to Promote China’s Gold Market BEIJING, April 1, 2010 – World Gold Council (“WGC”) and Industrial and Commercial Bank of China (“ICBC”) have signed a memorandum of understanding (MOU) for strategic cooperation within China’s gold market. This agreement will enhance the exchange of market information between…

  • China’s biggest bank sells stake

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    Aaron
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    China’s biggest lender, Industrial and Commercial Bank of China (ICBC), is selling a 10% stake to Goldman Sachs, Allianz and American Express. The deal, said to be worth more than $3bn (£1.7bn), is just the latest example of Western financial houses investing in Chinese banks. Bank of America and Royal Bank of Scotland are two…