It is reported that ICBC successfully showed itself in the competition with many well-known domestic and foreign companies for the 2008 legal award by Asia Legal Business magazine (referred to ALB). ICBC successfully won "China In-House Team of the Year" and "Banking and Financial Service In-House Team of the Year" in one stroke. And ICBC becomes the first domestic commercial bank that recently won the award of "China In-House Team of the Year" and the first Chinese-funded company whose lawyer team won those two awards at one time.
It is learned that ALB is an independent magazine with great influence in the world, specializing in legal news and the latest legal developments and providing the information of legal service team in Asia-Pacific region (including the rank of law offices and corporate attorneys). The headquarters of ALB was set up in Australia.
Every year the magazine commissions independent experts in Asia-Pacific region to select the best legal team in various legal service areas and held selecting activity of annual legal awards in China, Hong Kong, Japan, Australia and Southeast Asia. The legal awards presented by ALB are widely recognized by global legal service sectors because of the strong objectivity and high authority.
Those awards are recognized as "Oscar of the legal profession" in the Asia-Pacific region.
In 2008, ALB set up four specific awards for the best corporate attorneys including the "Banking and Financial Service In-House Team of the Year" , "Investment Bank In-House Team of the Year", "Chinese Company In-House Team of the Year" and "Foreign Company In-House Team of the Year". And "China In-House Team of the Year" was re-selected from the winners of those four specific awards.
In the selection, many famous Chinese-funded companies and foreign-owned companies in China took part in the competition for both "Banking and Financial Service In-House Team of the Year" and "Chinese Company In-House Team of the Year" and ultimately ICBC became the winner.
