Deal Marks Development for US and Chinese Banking Markets

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Posted on March 1, 2011 at 1:03 AM



Industrial and Commercial Bank of China, located in Beijing, entered into an agreement with The Bank of East Asia (BEA), to purchase an 80% common equity stake in BEA’s subsidiary bank based in New York. The Industrial and Commercial Bank of China is the world’s largest bank in terms of market capitalization and profita...

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