News Snapshot:
On June 24, 2022, ICBC Wealth Management Co., Ltd. (ICBC Wealth Management), a wholly-owned subsidiary of Industrial and Commercial Bank of China Limited, received the “CBRIC’s Approval in relation to the Commencement of Operation of Goldman Sachs ICBC Wealth Management Co., Ltd.” (Yin Bao Jian Fu [2022] No. 406), in which the China Banking and Insurance Regulatory Commission has approved the commencement of operation of Goldman Sachs ICBC Wealth Management Co., Ltd. Goldman Sachs ICBC Wealth Management is a joint venture established by ICBC Wealth Management and Goldman Sachs Asset Management, L.P. In the next step, ICBC will push forward...
