A state-run Chinese bank, Industrial and Commercial Bank of China (ICBC) has launched the country’s first India-dedicated publicly offered investment fund, saying the Indian market offers the best opportunity for Chinese investors due to the prospects of double-digit growth.
The fund, named the ICBC Credit Suisse India Market Fund, will invest in exchange-traded funds listed on more than 20 exchanges in Europe and the US that are based on the Indian market. It is China’s first publicly offered fund for investing in India. The fund will invest in the future of the Indian economy and track the distribution of the industrial structure across the Indian market.
Source- DD News
Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
- Industrial and Commercial Bank of China (ICBC) was established on 1 January 1984.
- Gu Shu is the President of ICBC.
- It Headquarters in Beijing, China.