The Industrial and Commercial Bank of China (ICBC) said its trade financing business has posted robust growth in the first quarter, with domestic subsidiaries conducting almost 290 billion yuan of in-balance-sheet trade financing, up 42.58 percent year on year.
Meanwhile, the bank's domestic branches granted nearly 30 billion U.S. dollars of international trade financing, up 160.27 percent year on year, said the ICBC, the country's largest lender by market value.
ICBC's overseas branches conducted more than 16 billion U.S. dollars of international trade financing during the same period, up over 100 percent year on year, it said.
By the end of March, ICBC's domestic outstanding trade financing reached 527 billion yuan, according to bank.
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Meanwhile, the bank's domestic branches granted nearly 30 billion U.S. dollars of international trade financing, up 160.27 percent year on year, said the ICBC, the country's largest lender by market value.
ICBC's overseas branches conducted more than 16 billion U.S. dollars of international trade financing during the same period, up over 100 percent year on year, it said.
By the end of March, ICBC's domestic outstanding trade financing reached 527 billion yuan, according to bank.
Weekly review May 12 No winners in U.S. hi-tech export controls May 12 China should view livelihood issues from strategic perspective May 11 Syria will not be another Libya May 06 Beijing-Shanghai high-speed railway to launch 10-day trial run May 14 The week in pictures May 11 2000-year-old wine unearthed in Henan province May 11 Scientist: China plans to build lunar research base May 09 Apple employee, customer reach settlement after Beijing iPad brawl May 12 Wenchuan Reconstruction: 'Chinese miracle' impresses world May 12 No winners in U.S. hi-tech export controls
