China's ICBC wins approval to set up wealth management unit

China's ICBC wins approval to set up wealth management unit

People visit the Bund in front of Shanghai's financial district of Pudong in Shanghai, China September 28, 2017. REUTERS/Aly Song/Files

Industrial and Commercial Bank of China (ICBC), the country’s biggest-listed lender by assets, has won approval to set up a wealth management unit, China’s banking and insurance regulator said on Sunday.

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