It was recently confirmed by Industrial & Commercial Bank of China, the world's largest lender by market value that it has won a banking license from Bank Negara. The bank now mulls to set up a subsidiary bank in Malaysia, which is one of China's most important trading partners in Asia.

Banking operations would be launched by ICBC in Kuala Lumpur and there are speculations that the subsidiary bank will quickly incorporate itself into the local financial market. Furthermore, it will also play a major role in servicing bilateral economic exchanges and trade.