The Chinese Industrial and Commercial Bank of China (ICBC) now has a branch in Zurich.
After China Construction Bank, ICBC is the second major Chinese bank to establish a presence in the financial center of Zurich.
The opening of the branch was on Thursday evening, an illustrious circle: were present in addition to the ICBC President Shu Gu and a representative of the Chinese Embassy also Finance Minister Ueli Maurer (SVP), National Bank President Thomas Jordan and Government Councilor Carmen Walker Späh (FDP), like the Zurich Department of Economic Affairs announced on Friday.
Over two years ago, a Zurich delegation in China made itself strong for the branch. Accordingly, Economics Director Walker Späh was pleased to announce a “further highlight of the cantonal engagement to promote trade relations with China”. That strengthens the financial center. According to Walker Späh, ICBC is the largest bank in the world in terms of total assets.