Top News

Chinese bank opens 1st French branch in Paris

Updated: 2011-01-19 19:43


Twitter Facebook Myspace Yahoo! Linkedin Mixx

PARIS - The Industrial and Commercial Bank of China (ICBC) inaugurated its first French branch in Paris on Tuesday.

Related readings:
Chinese bank opens 1st French branch in Paris China's ICBC to add branches in Europe
Chinese bank opens 1st French branch in Paris ICBC won't seek cash on capital market
Chinese bank opens 1st French branch in Paris PetroChina, ICBC rallies boost stocks as market rises 3rd day
Chinese bank opens 1st French branch in Paris 17 Chinese brands on World's 500 list

At the ceremony, ICBC President Jiang Jianqing and French Finance Minister Christine Lagarde jointly pressed a red button to symbolically launch the new subsidiary of the Chinese bank.

"France is very glad to welcome the biggest bank of the world, ICBC," Lagarde said during a gala diner organized in Brongniart Palace, the old Paris stock market.

According to Lagarde, the new investment from ICBC extended the existing financial cooperation between China and France, which was a recognition of Paris' financial position in the world and would benefit French employment.

Jiang said the great potential of commercial exchange between China and France, which exceeded $40 billion in 2010, encouraged enterprises from both countries to augment their mutual investment.

"Internationalization is a basic strategy for ICBC, which is unshakable even during the economic crisis," he said in front of nearly 200 guests from China and France.

On Monday, the ICBC head announced in Luxembourg the establishments of five subsidiaries in Europe: in Paris, Brussels, Amsterdam, Milan and Madrid.

The ICBC is the largest bank in the world by market capitalization. Its global services is supported through operations in 28 countries and regions with 203 branches in total. Outside China, the bank employs 4,700 local staff.


Pearl paradise

Dreams of a 'crazy' man turned out to be a real pearler for city

Literary beacon
Venice of china
Up to the mark

European Edition


Power of profit

Western companies can learn from management practices of firms in emerging economies

Foreign-friendly skies

About a year ago, 48-year-old Roy Weinberg gave up his job with US Airways, moved to Shanghai and became a captain for China's Spring Airlines.

Plows, tough guys and real men

在这个时代,怎样才"够男人"? On the character "Man"

Test of character
Sowing the seeds of doubt
Lifting the veil