October 27th 2006 is an important date of celebration in ICBC history. On this cool and clear autumn day, ICBC opened its new page in its history – the simultaneous public listing for Industrial and Commercial Bank of China Limited on stock exchanges both in Shanghai and in Hong Kong. This is the most remarkable milestone for ICBC joint-stock reform, which composed a brilliant chapter for the history of the financial development in China and even in the world.
ICBC made great success through a series of system and technology innovation during its IPO, whereas its listing churned up new opportunities and vigor on the capital market. It filled the blank history for the simultaneous listing for A-stock and H-stock and is the biggest global IPO in the history in terms of issue volume. After ICBC listing, its total market cap will be in excess of RMB 1 trillion, qualifying it as the biggest listed company on China's A-stock market and one of the biggest listed banks in the world.
The domestic and international IPO marks a new start point in ICBC history. ICBC will leverage on such opportunity to fully implement the new development strategic planning, accelerate the adjustment of operation structure, actively push forward the business and technology innovation, and perfect the thorough risk management based on the whole new system platform and with reference of the best international operation and management standards. It will also build itself as China's NO. 1 retail bank, credit bank, and the bank with diversified businesses. Furthermore, it will reinforce and strengthen its advantaged position in China's banking sector, take prudent steps in developing the international market, and strengthen the unified operation for its local and overseas operations. ICBC will take the shape as the internationally first-class financial company with outstanding service level, strong and sustainable growth, and decent returns for shareholders.
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