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ICBC and Standard Bank Hold a China-Africa Matchmaking Meeting

Industrial and Commercial Bank of China (ICBC) joint hands with Standard Bank of South Africa to hold a China-African customer matchmaking meeting in Shanghai on November 5. Representatives of nearly 60 enterprises from nine African countries including South Africa, Nigeria, Ghana and Botswana and representatives from over 50 domestic purchasing agents were invited. During the meeting, guests and audience exchanged opinions on business and trade ties between China and Africa and reached multiple intents of cooperation in tens of sectors such as agriculture, tourism, manufacturing, education, mining and transportation.

It was introduced that the meeting was intended to provide a platform of information sharing and trade matchmaking for Chinese and African importer and exporters and assist enterprises in harvesting substantial cooperation results during China International Import Expo (CIIE) to support the CIIE for a great success. At the meeting, principals of related ICBC departments introduced the Bank’s worldwide network layout and its complete product and service system, expressing the willingness to contribute to China-Africa trade financially. The representative of Standard Bank introduced their edges in services and hoped to work with ICBC to provide Chinese and African enterprises with all-round financial services by tapping into its regional influence in 20 African countries. Meanwhile, the two banks explained in details the “all-process banking product for China-African cross-border trade” co-launched by the two sides. Corporate representatives from the nine African countries introduced their respective featured products and services, discussed business in a one-on-one manner with Chinese counterparts and reached multiple intents of cooperation.

By the first half of 2018, total import and export value between China and Africa reached USD99.84 billion, an increase of 17.3% year on year with a robust growth momentum. In 2008, ICBC acquired 20% equity of Standard Bank Group and hence established a long-term strategic partnership with this largest commercial bank in Africa, dedicating to providing Chinese and African customers with comprehensive financial services and actively serving bilateral and multi-lateral economic, trade and investment exchanges.