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ICBC gets approval to take over US bank
BBC – Industrial and Commercial Bank of China (ICBC) has been given the nod to take over a US bank, the first such US approval for a Chinese firm. The US Federal Reserve approved state-owned ICBC’s plans to acquire the US subsidiary of Bank of East Asia. This comes just days after high-level economic talks between the US and China in Beijing. Read Article
Tags: Asia, banks, financial system, North America
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