Gateway to Europe

ICBC bullish on yuan business growth in land-locked nation

Industrial and Commercial Bank of China Ltd, the world's largest bank by market capitalization, is relying on the favorable investment climate in Luxembourg to provide the cushion for its expansion plans in Europe, a top bank official says.

"Luxembourg is an important financial center in Europe, with efficient regulations, obvious geographical advantage and a government that readily welcomes foreign investment into the country," says Gao Ming, chairwoman of ICBC Europe.