Supporting SMEs in Italy and China: agreement with ICBC

Intesa Sanpaolo and China’s leading bank ICBC have signed a Memorandum of Understanding, with the support of the Italy China Foundation, to support the growth of Italian and Chinese SMEs interested in business opportunities in the two markets.

Industrial and Commercial Bank of China (ICBC) is China’s leading bank and the world’s largest financial institution. ICBC ranks first among the Top 1000 World Banks by The Banker, first in the Forbes Global 2000, and first in Fortune’s Global 500 list of commercial banks.

The two banks, leaders in their respective countries, will offer a full platform of financial and advisory services aimed at supporting business development between Italy and China. The MoU was signed on the occasion of the China International Import Expo (CIIE) underway in Shanghai.

The agreement between Intesa Sanpaolo and ICBC provides for a distinctive commercial offering dedicated to the needs of Chinese entrepreneurs in Italy, a first for Intesa Sanpaolo.

The Memorandum of Understanding signed with ICBC strengthens Intesa Sanpaolo's presence in the Chinese market, which began when the Group opened its first Representative Office in Beijing in 1981.