Industrial and Commercial Bank of China (ICBC) will open a branch office in Prague. At the same time, writes Hospodářské noviny, the powerful bank has also launched China’s e-Mall (a rough Amazon equivalent) in the Czech Republic. Czech prime minister Bohuslav Sobotka signed agreement about ICBC’s entry into the Czech Republic, but it still needs an approval from the Czech National Bank. ICBC is China’s second largest bank, after the Bank of China. Sobotka hopes the Czech Republic will become a financial center for Chinese institutions in the CEE region.
