The most trusted valuable lender and also the world’s largest bank, the Industrial and Commercial Bank of China (ICBC) has shown confidence in one of the powerful markets of world, India.

It is investing $100 million in the country. It would lend the money to those companies and sectors where Chinese companies are present. Some of the sectors where they are present are power, telecom and communications. Branch of the bank has already been set up at central Mumbai, and Sun Xiang has been appointed as CEO for that office in India.

Yang Kaisheng, Head of ICBC was happy to announce that there are fruitful relations between both the countries and there has been 40% increase in the amount of trade between both the nations. Telling about the dealing, Yang told that they would start their by wholesale banking and gradually will move to personal and private banking. The Bank is determined to increase its total assets from international business from 4% to 10%.

Telling about other tie-ups: bank has recently obtained massive part of Standard Bank Argentina, which is 80% that amounts to $600 million. India and China are among countries which are not much affected by the global financial crisis.