Chinese banking giants in Amsterdam
Established in 1954 and headquartered in Beijing, CCB is one of the largest banks in China and the globe. According to the latest available numbers, the market capitalisation of the bank has reached USD207.9 billion, ranking it fourth among all listed banks in the world. CCB is the second large Chinese bank to set up shop in Amsterdam. In 2011 the Industrial and Commercial Bank of China (ICBC) opened its Amsterdam office as part of an ambitious strategy to increase its presence on mainland Europe. In an interview with amsterdam inbusiness Li Feng, the general manager of ICBC’s Amsterdam branch said: “On our arrival in Amsterdam, we received broad support from government agencies, covering everything from tax advice and finding a suitable office space to information on the geography, climate and public transport system that makes it that little bit easier to settle in.”
Optimal base for growth
Establishing in Amsterdam has been very beneficial for ICBC since the bank has grown substantially over the past years and is now the world’s largest bank by total assets. The bank continues to have regular contact with local government in Amsterdam, not only for ongoing support but increasingly for joint initiatives. Last October, the City in close cooperation with ICBC organised the Second China Holland Business Summit as part of a trade mission to China.