ICBC Signs Agreement With Antwerp World Diamond Center

Date:2011-10-25houhaizhen  Text Size:

October 25 -- Industrial and Commercial Bank of China (ICBC) (601398.SH, 1398.HK) signed an agreement with Belgium's Antwerp World Diamond Center (AWDC) yesterday to develop both parties' diamond financing businesses, reports

According to the agreement, ICBC will provide AWDC with trade financing, cross-border yuan settlement, global cash management, bank card acceptance services, while AWDC will assist ICBC's Brussels office with equipment and information for the operation of its diamond financing business.

Over the next 10 days, 15 diamond dealers from Antwerp will vist Beijing, Taiyuan, Jinan, Hangzhou and Guangzhou, and showcase $200 million worth of diamonds.

Antwerp is the center of the world’s diamond business, accounting for 80 percent of total global diamond transactions. Diamond exports from Belgium accounted for 20 percent of the country’s total exports to China.

2005-2011 All Rights Reserved 京ICP备05069564号-1