Date
16 October 2017

ICBC first Chinese bank in S Korea settlement system, paper says

Industrial and Commercial Bank of China Ltd. (01398.HK, 601398.CN), the country’s largest lender, is expected to become the first Chinese bank to join South Korea’s banking settlement system, China Securities Journal reported Sunday, citing Han Ruixiang, head of the bank’s Seoul branch. He urged the South Korean government to ease rules to help Chinese firms expand. At present, there are only five Chinese banks, which operate 11 branches, in South Korea, the report said.

– Contact HKEJ at [email protected]

TL/AC/RA

 

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