ICBC approved to inject assets to ICBC (Asia): report

HONG KONG (AFX-ASIA) - The Industrial and Commercial Bank of China has secured approval from the People's Bank of China to inject 12 bln hkd worth of assets owned by its Hong Kong branch into ICBC (Asia), the Apple Daily cited market sources as saying. The sources said ICBC deputy governor Li Lihui will visit the Hong Kong Monetary Authority soon to seek approval from the Hong Kong side. The sources said the assets to be injected into ICBC (Asia) will not include the Hong Kong branch's loans to Chinese enterprises.

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