ICBC Serves Firms Linked to Oligarchs, Autocrats to Push China’s Agenda
4 Articles
4 Articles
ICBC serves firms linked to oligarchs, autocrats to push China’s agenda
In the heart of London’s financial district, tucked between the Bank of England headquarters and London Bridge, is one of the world’s most influential institutions. The majestic neoclassical building is hard to miss, but few passersby would recognize the ancient coin-inspired logo of the Industrial and Commercial Bank of China. This outpost of the biggest bank in the world has grown over three decades to hold tens of billions of dollars in asset…
China’s Largest Bank Linked to Mining Loans for Political Influence
China's biggest bank, the Industrial and Commercial Bank of China, has been linked to issuing loss-making or marginal loans to Australia's major resources and infrastructure firms. This move was aimed at building long-term relationships to further Beijing's political objectives. The bank's strategy of leveraging its lending power to advance Chinese President Xi Jinping's policy goals was revealed through almost 4.8 million leaked documents. The …
Millions of leaked documents expose how the world’s largest bank, ICBC, maneuvers to achieve China’s geopolitical goals. Together with the ICIJ and media in 24 countries, De Tijd investigated the data of the Chinese bank, which is also active in Belgium and provides loans to companies here.
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