China's biggest bank plans branches in U.S., Russia, Australia

BankofChina

China owns most of the dollars in circulation, so why not? Hey, if the North American Union plans fail, we can always call ourselves the United States of China. No wonder some California elementary schools teach Chinese. — PID

October 17, 2007

BEIJING (AP) — China’s biggest bank, government-owned Industrial and Commercial Bank of China, plans to open its first U.S. branch as part of a global expansion, a state news agency quoted its chairman as saying Wednesday.

“Preparations have been going on smoothly. We hope to receive approval from American authorities as early as possible,” said ICBC chairman Jiang Jianqing, according to the Xinhua News Agency.

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