China's ICBC launches second branch in Belgium

Following the launch of its first branch in Brussels, Industrial and Commercial Bank of China (ICBC) marked a new stage of its expansion in Belgium on Jan 26th with the establishment of ICBC Antwerp Branch, its second branch in Belgium and the first Chinese bank in Flanders. Jiang Jianqing, Chairman of ICBC ltd is delivering a speech on the opening ceremony. [Photo/Gao Shuang]

Industrial and Commercial Bank of China (ICBC) officially launched its second branch in Belgium on Tuesday, 26th January in Antwerp.

In early 2011, ICBC set up Brussels branch in Belgium. After 5 years of development, ICBC has built up a trustworthy reputation in Belgium with total asset of 1.2 billion US Dollars as a provider of various specific financial services, such as oversea loans against domestic guarantee, ship financing, cross-border RMB business, and UCITS SICAV, among others.

Since the first European branch ever was established in London in 1995, ICBC's business has been expanded in 19 cities of 12 major countries in Europe, including UK, Germany, Luxemburg, Holland, France, Italy and Belgium, building a complete financial service network across Europe.

"Antwerp is the financial and cultural capital of Belgium, as well as one of the biggest ports in the world. Apart from that, it also plays an essential role in China's‘One Belt One Road' initiative,"said Jiang Jianqing, Chairman of ICBC ltd.

He said that the trade between China and Belgium has been growing steadily ever since the two countries established their diplomatic relationship in 1971. Belgium remains an important trade partner within EU for China and China has become the biggest Asian invest partner of Belgium.

"This year marks the 45th anniversary of China-Belgium diplomatic relationship. The establishment of Antwerp branch is hence of huge significance. It indicates that ICBC is determined to invest more in Belgium, and to deepen our financial cooperation. Besides, it is also a strategic move to promote ‘One Belt One Road' initiative," added him.

Ambassador Yang Yanyi, head of the Mission of China to the EU, said that ICBC has not been only serving the wellbeing of Chinese and Europeans respectively, but has also been forging stronger economic, trade and investment relations between China and EU.

She said that giving the background of China's new concept of development and EU's integrating process, China and EU are joining hands to strengthen their comprehensive strategic partnership to promote, peace, growth, reform and civilization.

"We are fully confident that the ICBC Antwerp Branch will go all out to offer the best possible financial services and contribute to the enhancement of mutually beneficial and mutually reinforcing partnership between China and the EU and China and Belgium，" stressed Yang.

Jiang also said that the visit of King Philippe to China last June put extra accent on the determination of promoting China-Belgium economic tie from both sides.

On June 23, 2015, witnessed by President Xi Jinping and King Philippe of Belgium, ICBC signed an export buyer's credit agreement with Exmar. ICBC also signed a strategic cooperation memorandum with KBC Bank and a financial lease agreement with the Seatrade Group, which was witnessed by the Chinese Premier Li Keqiang and the Belgian Prime Minister Charles Michel.

To contact the reporter: fujing@chinadaily.com.cn