And ICBC's board got a new member: John Thornton, who retired as Goldman's co-president in 2003 to teach at Tsinghua University in Beijing.
Airbus signed agreements for the purchase of 88 A320 single-aisle aircraft with China Aviation Supplies Company (CAS) and ICBC Financial Leasing Co, Airbus said in a press release posted on its website on June 28.
It should be noted that the Insurance company in British Columbia is the Insurance Company of British Columbia (ICBC), a company owned and operated by the government which, in the province of BC and Canada, is left-wing and highly involved in the operation and administration of the ICBC.
FORBES: Will The London Riots Be The Turning Point For Facial Recognition As A Crime-Fighting Tool?
Yet although they remain tiny compared with Chinese giants like ICBC and China Construction Bank, there is often more than a whiff of Beijing about the Indian state lenders.
ECONOMIST: China��s banking system is not a good model for India
Monday's sale is Goldman's sixth and final sale of ICBC shares, a person close to the Wall Street bank said.
Across the Sea of Japan in China, ICBC is the largest and most profitable commercial bank in the world.
FORBES: Gold Shorts Beware China's Million-Strong Gold Savers
With new capital rules looming, and China's banking system grappling with slowing profit growth and the potential for more bad loans, the ICBC sale appeared inevitable, they said.
Allianz and American Express, the two other foreign firms that bought into ICBC in 2006, sold stakes last year too.
And like Western firms' cross-border investments into Chinese banks, Goldman's ICBC stake never fulfilled its promise as a potential gateway to a much bigger slice of the investment-banking market.
Since then, the ICBC broker-dealer in the U.S. has focused on clearing trades of Treasury bonds and other types of fixed-income securities for clients.
应用推荐