Chinese bank opens two branches in Pakistan
May 21st, 2011 - 10:07 am ICT by IANSIslamabad, May 21 (IANS) The Industrial and Commercial Bank of China (ICBC) - the country’s largest commercial bank - has opened a branch each in the Pakistani cities of Karachi and Islamabad, Xinhua reported.
Addressing the inaugural ceremony in Islamabad Friday, Pakistani President Asif Ali Zardari said the ICBC initiative to open branches in Pakistan would begin a new era of cooperation in the banking sector of the two countries.
“The opening of ICBC branches, which coincides with the 60th anniversary of the diplomatic relations between Pakistan and China, will take the economic relations between the two countries to new heights,” Zardari said.
The president hoped the ICBC’s investment in Pakistan would prove to be profitable and that the bank would play a prominent role in channeling bilateral investments.
Huang Xilian, China’ Charge d’Affairs in Pakistan, said the economic and trade cooperation between China and Pakistan is entering a new historical stage.
ICBC President Yang Kaisheng said the increasingly closer economic ties between the two countries laid a sound foundation for ICBC’s development in Pakistan.
- Improving ties in India and Pak's own interest: China - May 05, 2010
- China's firm policy to deepen Pakistan ties: Wen (Lead) - Dec 18, 2010
- Pakistan, China ties are unique: Hina Rabbani Khar - Aug 24, 2011
- Pakistan seeks full membership of Shanghai group - Jun 13, 2011
- Zardari seeks preferential trade ties with Myanmar (Lead) - Jan 25, 2012
- Expand Pakistan, Saudi Arabia trade ties: Zardari - Apr 11, 2012
- Pakistan invites South Korea to set up economic zone - Dec 01, 2011
- Wen reiterates support to Pakistan's sovereignty - Aug 25, 2011
- India conveys its concern to China over terrorism emanating from Pakistani soil - Dec 17, 2010
- Pakistan, China sign MoUs on first day of Wen's visit - Dec 18, 2010
- Trade potential making India, Pakistan lift barriers - Feb 20, 2012
- Now India-China model for India-Pakistan ties? - Apr 08, 2012
- I am in love with China: Zardari - Nov 12, 2010
- Pakistan, China trade to reach $10 bn: Zardari - Feb 01, 2012
- Manmohan-Zardari meet a good beginning: Mufti - Apr 08, 2012
Tags: 60th anniversary, asif ali zardari, bank of china, banking sector, chinese bank, commercial bank of china, diplomatic relations, economic relations, economic ties, inaugural ceremony, industrial and commercial bank of china, industrial and commercial bank of china icbc, investments, karachi, new era, pakistan islamabad, pakistani cities, sound foundation, trade cooperation, xinhua