Money
ICBC's int'l settlements exceed $1t in 2010
Updated: 2011-05-03 14:01
(Xinhua)
BEIJING - The Industrial and Commercial Bank of China (ICBC), the country's largest asset lender, said on Tuesday that its international settlement volume rose 44 percent year on year to reach $1.06 trillion last year.
|
The bank attributed the rapid volume growth to China's strong foreign trade and the company's expansion into other countries, particularly those with emerging economies.
Bilateral trade volume between China and Association of Southeast Asian Nations (ASEAN) countries, for example, increased by 37.5 percent year on year to reach about $292 billion in 2010.
ICBC has established or acquired branches in five ASEAN nations, according to the bank. The aggregate gross domestic products of these nations account for more than 80 percent of the total combined GDP of all ten ASEAN nations.
Specials
British Royal Wedding
Prince William and Kate Middleton married at Westminster Abbey in a royal occasion of dazzling pomp and pageantry.
Best wishes
The final frontier
Xinjiang is a mysterious land of extremes that never falls to fascinate.
Bridging the gap
Tsinghua University attracts a cohort of foreign students wanting to come to China.