China's giant ICBC also praised Turkey

Turkey ICBC Chairman Gao Xiangyang, Turkey's dynamic demographic structure of the energy and position as a logistics base, said the offer attractive opportunities for foreign investors.

 

indicating that the switch rebalancing of Turkey's economy in the first three quarters of the year, Gao said that growth has slowed and domestic demand remains low.

Gao Turkey's external balance and inflation slowdown that allows the emergence of significant improvement in dynamic attention.

Turkey's annual current account reminiscent accounts of September per annum at about $ 5.9 billion more than give Gao "In this case, the same period last year $ 45 billion of the current account deficit on the move is a sign that there is a very serious transformation." used the phrase.

Gao approach to the authorities responsible if the inflation front and the Republic of Turkey Central Bank of Turkey (CBT) tight thanks to the monetary policy stance, a significant downward movement in inflation in the influence of cyclical factors by the end observes that the Q3 it dropped to single digit levels, he said.

"We will support the trade between China and Turkey"

Xiangyang Gao, the New Economy Program (YEP) announced at the end of September 2020 "after the transformation will begin," he said.

Turkey's future willingness target determines that expresses Gao on economic performance for three years, "Policy makers, Turkey will bring into the country a high income levels to achieve sustainable growth, but also the country's foreign and resolve their internal fragility intend Show. Aforementioned high standard targets set it will, of course, be supported by a comprehensive structural reform agenda. " said.

Gao ICBC deals from Turkey's local and regional opportunities afforded by the unique geographical position of Turkey from a financial institution that aims to take advantage of growth by fully told.

Turkey's sustainable growth to achieve further points that will help to achieve the purpose of investing in key areas and projects that they would continue to work together with all stakeholders, Gao said: "We are celebrating our fourth year in Turkey. Own brand in the Turkish financial sector during this period our have created. Bank's productive partnerships we execute with our wide range of interlocutors, including good performance in the field of finance, which since its entry into the Turkish banking sector is an indication of the investment environment in Turkey. ICBC Turkey, ICBC takes advantage of the power and knowledge of the Group. by supporting trade between the two countries, China Turkey and we aim to be a catalyst for economic cooperation. "

"Turkey has increased the interest of Chinese investors"

ICBC Chairman Gao Turkey, the establishment of ICBC Turkey Chinese investors has increased the interest in Turkey drew attention.

Following the ICBC, the Chinese investors to finance, shipping, retail, e-commerce, stating that they participate in related communications and energy sector projects in Gao, "Turkey's dynamic demographic structure and an energy and logistics base of the location, offers attractive opportunities for foreign investors ICBC Turkey is here to increase the financial support for the implementation of the Belt and Road projects on the journey of globalization with the slogan 'Going Global' by Chinese enterprises. used the phrase.

Gao ICBC Turkey is an outstanding example of financial cooperation between China and Turkey, and the bank said that Chinese enterprises are widely recognized in Turkey provide.

"Fintech offers unique opportunities"

Xiangyang Gao, Istanbul Finance Center (IFC) project to strengthen the importance of Istanbul in the world plan, said that will create a platform to strengthen the ties between Chinese and Turkish companies, he said.

Ao Hong Kong, Beijing and Shanghai are among the top ten. Two new centers from China, Nanjing and Hangzhou, have been added to the global list. A partnership between Chinese and Turkish authorities, G said Gao, reminding that Istanbul has risen to 53rd place in the Global Financial Centers Index. it will be very helpful in the integration of the financial markets in the two countries. In the future, there may be partnerships between IFC and financial centers in China. There are many opportunities to improve cooperation between the Turkish and Chinese parties. " found.

Since the establishment of the Presidential Finance Office, Gao noted that Istanbul has risen 15 places in the global financial centers ranking.

Reminding that the officials of Finance Office stated that fintech is a focal point that will take Istanbul Finance Center to a higher level, Gao said, "There are unique opportunities for partnerships in the Fintech field. Chinese and Turkish entrepreneurs can come together and share technology and know-how." used the phrase.

"We will finance projects"

Gao stated that ICBC Turkey is one of the biggest overseas subsidiaries of ICBC. There is another example of such a move is in expansion. this strategic approach is an indication of the importance given to Turkey ICBC. " he said.

Gao noted that ICBC Turkey's total assets grew fourfold compared to its size at the end of 2014, adding that the loan portfolio increased by more than $ 1 billion and reached a threefold size.

Gao maintain healthy growth in the future, they aim to provide Turkey's sustainable growth financing to projects that will help to achieve the performance, he added.

ICBC Group

The Industrial and Commercial Bank of China Limited (ICBC), which has held the title of the world's largest bank for three years, acquired Tekstilbank, a subsidiary of GSD Holding, in 2015. The title of the Bank was changed to ICBC Turkey Bank AŞ on 13 November 2015.

ICBC's share in the bank is 92.8 percent, while the remaining shares are traded on Borsa Istanbul.

ICBC Turkey operates in Istanbul with its Head Office, 43 branches nationwide, 48 ATMs, mobile branches, internet branches and telephone branches. The ICBC Group, on the other hand, serves 496 million individual and 5 million corporate customers with its approximately 17,000 branches in 42 countries of the world.

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