Industrial and Commercial Bank of China (HK:1398) has released an update.
The Industrial and Commercial Bank of China Limited (ICBC) has announced a strategic investment of RMB21.5 billion in the China Integrated Circuit Industry Investment Fund Phase III, acquiring a 6.25% equity stake. The investment, unanimously approved by the bank’s board, aligns with ICBC’s development strategies and is aimed at bolstering the integrated circuit industry as part of its commitment to supporting the real economy. Funded by ICBC’s own capital, this move is anticipated to enhance the bank’s financial business and contribute to sustainable economic and societal development.
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