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Industrial and Commercial Bank of China (ICBC)
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Industrial and Commercial Bank of China (ICBC)

Industrial and Commercial Bank of China (ICBC)
Industrial and Commercial Bank of China (ICBC)
Founded in 1984, Industrial and Commercial Bank of China (ICBC) is one of China's 'Big Four' state-owned commercial banks - the other three are Bank of China, Agricultural Bank of China, and China Construction Bank.
Britain’s Trade Secretary Peter Kyle outside 10 Downing Street in London. Photo: EPA
China-UK relations

UK trade secretary hosts Chinese delegation in bid to boost services

Peter Kyle and China’s Commerce Minister Wang Wentao will launch an initiative to support UK businesses expanding their exports into China.

Banking & finance

Gold, cruises and Dior: Hong Kong lenders aim to entice mainland China visitors

Hong Kong economy

Editorial | Hong Kong’s West Kowloon arts hub must use financial reprieve wisely

Hong Kong economy

Hong Kong’s West Kowloon arts hub secures HK$3 billion, 10-year loan facility

Deal, together with US$1 billion bond issuance in tranches, will help operator meet financing challenges until property project generates revenue.

Construction at the West Kowloon Cultural District. Photo: Jelly Tse
Banking & finance

Digital finance forum: AI, data to smooth trade-finance processes

Bankers from HSBC, Hang Seng Bank and ICBC Asia tout technology innovation to ease pain points for trade-finance clients.

Fintech

Hong Kong, Shenzhen push secure data corridor to boost AI, fintech opportunities

White list for cross-border data transfers is being established to enhance transparency and pave the way for deeper collaboration.

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Ant Group

Ant Group affiliate OceanBase uses Hong Kong as hub to challenge Oracle

Oracle remains the world’s top database provider, but OceanBase has an infrastructure better suited for AI workloads, CEO says.

OceanBase CEO Evan Yang announces the company’s global expansion plans at its office in Hong Kong on Thursday. Photo: Xinmei Shen
Banking & finance

New lending and repo plans accelerate the yuan’s challenge to the US dollar

Hong Kong is the largest offshore yuan market worldwide, with 76 per cent of offshore yuan payments in August conducted in the city.

Banking & finance

Hong Kong banks battle for wealthy mainland clients during ‘golden week’ holiday

Hong Kong authorities estimate that as many as 1.54 million mainland visitors will cross the border during the eight-day holiday.

Banking & finance

China’s banks face their ‘Japanification moment’, S&P report warns

For China’s central bank, ‘safeguarding growth and social stability will take priority over bank profits’, the report says.

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A man sits in front of the headquarters of the People’s Bank of China, the country’s central bank, in Beijing. Photo: Reuters
Banking & finance

Profitability pressure grows for China’s state banks amid low rates

All six state banks, including ICBC and China Construction Bank, report lower margins alongside small reductions in bad loans.

The logo of Industrial and Commercial Bank of China is seen in Shanghai on March 1, 2023. Photo: Future Publishing via Getty Images
Artificial intelligence

Alibaba, Standard Chartered partner to accelerate AI adoption in banking sector

The British multinational bank will leverage AI solutions from Alibaba Cloud to boost operational efficiency and elevate customer experience.

Hong Kong stock market

Chinese firms’ H stocks trade at smallest discount to onshore shares in 5 years

The narrowing discrepancy reflects the Hong Kong market’s gains from global investors’ diversification efforts.

Banking & finance

China gives Hong Kong new yuan transfer cap as payment link starts

Starting from noon on Sunday, the 17 million registered users of Hong Kong’s FPS will be able to remit up to HK$10,000 per day to 298 million users on the mainland’s IBPS.

An image of the Faster Payment System (FPS), which recorded 17 million users as of March 2025. Photo: handout
Alibaba

Alibaba cements AI leadership as cloud unit reports fastest growth since 2022

Internally, the company is also betting big on the integration of AI technologies with its traditional e-commerce business.

The Alibaba logo is seen on a smartphone screen in this arranged photograph taken March 20, 2025. Photo: Shutterstock Images
IPO

CATL’s dilemma: top-of-the-range Hong Kong IPO price may cap first-day gains

EV battery maker’s 6.7 per cent discount to its Shenzhen-traded shares is much lower than the average 25 per cent discount for dual-listed Chinese firms.

Hong Kong stock market

AIA, Xiaomi lift Hang Seng Index, offsetting losses due to poor China PMI data

China’s April PMI falls to 49 from 50.5 in March and short of the consensus estimate of 49.7.

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Banking & finance

Chinese banks raise consumer loan rates from record low to protect margins

Banks will offer consumer loans at 3 per cent to boost their net interest margins, which hit a low of 1.52 per cent at the end of last year.

Chinese banks are lifting their consumer loan rates. Photo: AFP
Banking & finance

Chinese state banks’ 2024 profits rise, NPLs dip even as margins thin

All six state-owned commercial banks posted moderate profit growth for last year, as non-performing loan ratios declined slightly.

Hong Kong property

ICBC (Asia) backs Hong Kong developers with loan support as sector struggles

Local subsidiary of China’s largest bank has ‘zero’ non-performing loans from Hong Kong developers and plans to increase home mortgages.

Banking & finance

Beijing allows Hong Kong banks to issue credit cards in China from March 1

The new rules will benefit lenders such as HSBC, Standard Chartered, Bank of East Asia and Hang Seng Bank, analysts say.

Top Hong Kong banks like HSBC and Standard Chartered stand to gain from the opening up of China’s banking sector. Photo: Sam Tsang
Corruption in China

Former ICBC executive gets death sentence with reprieve for taking bribes

Zhang Hongli, who was vice-president of the state-owned bank, accepted bribes in exchange for help with loan financing and securing jobs.

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The court found Zhang Hongli’s crimes had caused “significant loss” to the country and people’s interests. Photo: CCTV
Banking & finance

Hong Kong banks offer lai see, hampers, Asia Miles to returning workers

Companies have traditionally given staffers lai see packets on the first working day of the Lunar New Year.

China stock market

Chinese banks surge on CSRC guideline urging more shareholder returns

Chinese banks soar after regulator pushes for increased shareholder returns, aiming to enhance stock prices and corporate governance.

Banking & finance

China weighs injecting US$142 billion of capital into top banks

Funding for the first such intervention since the 2008 financial crisis would mainly come from new special sovereign bonds, sources say.

An ICBC branch in Chengdu. Photo: Bloomberg
Banking & finance

Will new policy encourage Chinese banks to invest in struggling start-ups?

Beijing’s encouragement for banks to boost investment in unlisted companies is a big move in the effort to support start-ups, analysts say.

Li Yunze, director of the National Administration of Financial Regulation. Photo: Reuters
Banking & finance

State-owned banks face thinner margins amid Beijing’s call to support economy

At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline.

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Banking & finance

Saudi Arabia wealth fund signs US$50 billion deals with 6 Chinese institutions

Agreements with top financial institutions including BOC, CCB and ICBC aim to promote two-way capital flows through both debt and equity, Public Investment Fund says.

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