Hong Kong, 14 December 2009
Industrial and Commercial Bank of China (Asia) Limited ("ICBC (Asia)") has become a founding shareholder in the Hong Kong Mercantile Exchange ("HKMEx"). ICBC (Asia) acquired a 10% equity interest in HKMEx and agreed to participate extensively in the Exchange’s operations as a Trading Member, Clearing Member and Settlement Bank.
ICBC (Asia) joins China Ocean Shipping (Group) Company, operator of China’s largest shipping container line, as a keystone investor in the Hong Kong Mercantile Exchange.
ICBC (Asia) Managing Director and Chief Executive Officer Chen Aiping said the investment is a strategic development for ICBC (Asia). “At this stage in the growth of ICBC (Asia), such an investment is an appropriate step as we are specialized in providing cross-border financial services for the Mainland and Hong Kong while China is a very important importer and trader of commodities,” he said.
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