The Industrial and Commercial Bank of China (ICBC) opened its first branch in Zurich. Due to the symbolism of the event, the opening was attend by illustrious guests such as the bank’s president Shu Gu, a representative of the Chinese Embassy, Finance Minister Ueli Maurer, National Bank President Thomas Jordan and Economic Director Carmen Walker Späh. ICBC is currently the largest bank in the world if measured by total assets.
Ms. Walker Späh had already campaigned for a Zurich ICBC branch office in 2016, she said at the opening that it strengthens the importance of the financial center Zurich and is another highlight of the cantonal engagement to promote trade relations with China.
ICBC is not the first Chinese bank to open a branch in Zurich; the China Construction Bank (CBC) is already present there since 2016.
