Bloomberg News

ICBC Seeking Overseas M&A Opportunities, President Yang Says

March 12, 2012

Industrial & Commercial Bank of China (601398) Ltd. is still seeking overseas merger and acquisition opportunities, President Yang Kaisheng said in Beijing.

The company will focus on emerging markets for its overseas acquisitions, Yang said in an interview while attending legislative meetings in Beijing. Any deal will depend on the right time and opportunity, he said.

Yang also said he hasn’t heard of further plans to set up a financial assets regulator similar to the State-Owned Assets Supervision and Administration Commission. Finance Minister Xie Xuren said on March 6 the State Council is researching whether to set up a regulator similar to SASAC, which oversees the state’s non-financial assets.

To contact Bloomberg News staff for this story:

To contact Bloomberg News staff for this story: Victoria Ruan in Beijing at vruan1@bloomberg.net


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