Dear Slate, yes there are chocolate bars in China
Cinematheque: Mulan is finally Chinese again! (and other film news)
Protest in Guangzhou: Why would you burn garbage?
Barbie Spa: For the cosmopolitan plastic beauty in you
Obama in China: Long gone, and still headlinin'
Nevertheless, according to Reuters Estimates:
ICBC’s share price on Monday valued it at 28 times analysts’ forecasts for its earnings per share in 2007, far above 11 times for Citigroup and an average of 16 times for major global banks.
So ICBC may not last in that position too long as the bubble could burst at anytime and the Shanghai stockmarket is showing signs of overheating. Still this may be a sign of greater things to come?
Photo of the ICBC Tower in Shanghai from ramoncy.
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truly frightening considering the 'service' that they 'offer'
Being a state-owned and financed entity apparently is not a disqualifying feature. Not many banks can compete with national treasuries, which is where the big 4 chinese banks get their direct backing from.
And of course no one is completely aware or willing to face up to the true level of NPLs in the ICBC.
nanheyangrouchuan
I just learned the fun of traveling and using ICBC around China. I was outside my province and needed to use the ATM at another branch of the bank... I didn't realize I'd be charged 20 kuai for using my own bank's machine. Apparently this is perfectly normal among banks here.
about the 'service,' if citibank's got as many customers every day as ICBC，they probably wouldn't do anything better...
u snobbish and cynical expats only love to mock at anything in china, just to feel a sense of superiority...
U mock at china coz china is nothing compared to US or EU. but if one day china is as good, u probably wouldn't be qualified to stay here...
Well, service sucks at Chinese banks. Sorry, guest. But Nan's right - - - they aren't really banks, more like appendages of the central government to keep the economy humming with cheap loans.
Citibank has far more money, has far more services, and the net-wealth of the people it deals with dwarfs ICBC. Plus it exists in countries all over the world, not just China. When China fully opens up it's banking sector (as mandated by the WTO) and relaxes it's draconian currency controls, then the Chinese will rush to pull their savings from the low-interest ICBC accounts and push them into real banks like Citibank.
And when the Shanghai exchange goes POP it's reign at the top will be over anyway.
#4, I don't talk in hypotheticals like an IDIOT.
I said nothing about China, you pathetic race-baiter. ICBC is run like crap with no transparency, with about 10X more employees than Citibank, too. Try getting some money without waiting forever. The employee attitude is also terrible, like they are somehow put out by helping you. You brought China in.
Some Chinese banks are good. My experience with China Merchant's Bank has been good -- btw also a Chinese bank. Maybe next time you can summon more brain power to bring to the table.
Calm down. No need to be mad.