ICBC

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Top China Bank Buys Record $5.6B Stake in African Lender

Beijing moves to invest in developing nations

(Newser) - Prodded by Beijing to invest in developing countries, China's massive state-owned bank has inked a deal to buy 20% of South Africa's Standard Bank for $5.6 billion, marking the largest Chinese investment ever in Africa. ICBC, flush with cash, is eager to provide financial services to Chinese companies increasingly...

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