ICBC to open up European & American service divisions

David Nealis President of Blue Bridge

ICBC to open up European, American service divisions
Industrial and Commercial Bank of China Ltd. will launch overseas regional cash management centers in 2012 to service Chinese companies and aid their global-market operations.

 In May a center in Europe will be established, with the North American center opening in October. ICBC Vice President Luo Xi said that the amount of ICBC's overseas assets is likely to be more than 5% of the total by the end of this year. There are over 180,000 Chinese investment institutes in 178 countries and regions with direct investment of over RMB 320billion (US$ 51billion) in 2011.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

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