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ICBC is the biggest and the most closely watched of China’s banks, a barometer for Chinese banking and the ebbs and flows of the national economy. With a trade war escalating, it is a tricky time to be that proxy.
Business is fine so far. ICBC’s half-year results, reported in August, showed first-half profits up from Rmb153 billion ($22.3 billion) to Rmb160.4 billion year on year, with most other metrics, from bad loans to net interest margin, steady.
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