ICBC plans to cooperate with Russia on the Chinese silk road project

ICBC plans to cooperate with Russia on the Chinese silk road project

The tariffs will be reviewed in the Republic of Mordovia, the Chuvash Republic, Altai and Stavropol Krai, Astrakhan, Arkhangelsk, Amur and Ivanovo regions, where there has been growth of tariffs more than on 10%.

MOSCOW, Dec 14. The world’s largest Bank by assets Industrial and Commercial Bank of China (ICBC) plans to cooperate with Russia on the project of the Economic belt of new silk road, which sells China, said in an interview with the President of the Russian subsidiary — Isibasi Bank, sun Jan.

The idea of building a new silk road that would connect China with countries of Europe and to strengthen cooperation with Asia and Africa, the President of the PRC XI Jinping put forward in 2013. We are talking about creating a trade corridor for direct delivery of goods from East to West on favorable terms. China expects with this initiative to create a transport network from the Pacific ocean to the Baltic sea, to reduce barriers to trade and investment, to expand the system of settlements in national currencies.

“ICBC will work closely with Russian companies on the construction of the Economic belt of the silk road,” said sun.

He also said that ICBC has a broad customer network, and a network of offices and subsidiaries along the route of the new silk road (120 offices in 18 countries, including Russia). In addition, the Bank has enough financial resources to Fund projects. At the end of June, ICBC has participated in 81 the project whose total value amounted to us $ 11.6 billion. Soon is not told about the share of the Bank in these projects.

The implementation of Economic belt silk road involves the creation of several hundred infrastructure projects: Railways, highways, energy projects and industrial parks, the construction of which will begin in the next few years in Kazakhstan, Kyrgyzstan, Tajikistan, Pakistan and other neighboring countries China.

Industrial and Commercial Bank of China (ICBC) established in 1984. In 2015 the Bank for the third year in a row topped the ranking of the largest public companies Global 2000, Forbes published annually. By the end of 2014, the Bank’s assets amounted to $ 20,61 trillion yuan (3.2 trillion dollars), which makes it the largest Bank in the world in terms of assets.

The full version of the interview is available at 13.00 GMT on the website