Why did ICBC open a London branch in the UK?

Industrial and Commercial Bank of China held the opening ceremony of its London branch in the City of London. Minister Ni Jian, Chargé d 'affaires of the Chinese Embassy in the UK, alan yarrow, Mayor of the City of London, Megan Butler, Senior Executive Officer of the UK Prudential Supervision Bureau, Katharine Braddick, Director of the Financial Services Department of the UK Treasury, and Jiang Jianqing, Chairman of the Industrial and Commercial Bank of China attended. Chairman Jiang Jianqing said at the opening ceremony of the branch that ICBC has always attached great importance to the British market and regarded London as one of the core strategic markets for overseas development. After the opening of ICBC London Branch, it will mainly engage in commercial banking business together with the existing ICBC London Branch, in which London Branch will focus on large-scale wholesale business and ICBC London Branch will mainly develop retail and small and medium-sized enterprises.