ICBC keeps growth pipeline robust with initiatives to help Chinese firms' business expansion, reports Jiang Xueqing. Like many domestic banks, Industrial and Commercial Bank of China Ltd is facing pressure from all sides. The pressures include a slowing economy, corporate restructuring that reduces the need to raise funds for domestic purposes and tougher competition in the finance sector, all of which are cutting into its profit growth. One of the solutions for ICBC has been to focus more on overseas operations. Its foreign business is being boosted by opportunities arising from the yuan's internationalization and the "Belt and Road Initiative" of the Chinese government－the Silk Road...
↧
