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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.
China has ambitions to internationalise its yuan currency and become a global financial powerhouse. Photo: Shutterstock
Banking & finance

7 of world’s 10 biggest banks are now Chinese as Beijing’s financial aims grow

China’s ‘big four’ banks took the top spots in The Banker’s latest global ranking, with JPMorgan Chase following in fifth place.

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Gold in Hong Kong

Hong Kong inaugurates trial operation of gold clearing and settlement system

China-UK relations

UK trade secretary hosts Chinese delegation in bid to boost services

Banking & finance

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

With 980,000 visitors from the mainland expected during golden week, Hong Kong lenders line up incentives to capture wealthy customers.

Mainland tourists flock to Tsim Sha Tsui during the Golden Week holiday on May 3, 2025. Photo: Nora Tam
Hong Kong economy

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

While loans and bonds are a short-term fix, the West Kowloon Cultural District Authority needs sound strategies to ensure sustainable cash flow.

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.

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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.

Permanent secretary for Financial Services and the Treasury Salina Yan speaks at the Development & Innovation of AI for Digital Finance forum at Hong Kong Convention and Exhibition Centre in Wan Chai on Monday. Photo: Eugene Lee
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.

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.

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.

Illustration by Henry Wong
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.

HSBC has also arranged a cocktail reception with internationally renowned Hong Kong actor Tony Leung, as part of a bank card product launch during the holiday. Photo: Handout
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.

videocam
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.

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.

Standard Chartered will leverage artificial intelligence solutions from Alibaba Cloud, the AI and cloud computing arm of Alibaba Group Holding. Photo: Shutterstock
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.

Pedestrians walk in front of an electronic sign board showing the Hang Seng Index in Hong Kong on July 11, 2025. Photo: AFP
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.

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.

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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.

CATL is expected to raise HK$35.66 billion from the sale of 135.6 million shares at HK$263 apiece. Photo: Reuters
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.

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.

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.

A branch of the Industrial and Commercial Bank of China (ICBC) in Beijing on April 1, 2019. Photo: Reuters
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.

A worker cleans a pool near residential construction projects in the Kai Tak area of Hong Kong on March 11, 2025. Photo: May Tse
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.

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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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.

Lai see packets. Photo: Shutterstock Images
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.

Shares of top banks, including ICBC, rose on Monday after the regulator pushed for increased shareholder returns. Photo: EPA-EFE
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.

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.

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