ICBC (Mexico), the first wholly-owned branch of ICBC in Mexico, was officially opened in Mexico City on June 6 local time, becoming the first Chinese bank in Mexico. ICBC (Mexico) currently has established a professional team consisting of financial experts from China and Mexico to provide comprehensive financial service for Chinese and Mexican enterprises, including loans, trade finance, and foreign exchange transactions.

ICBC (Mexico) is granted the banking license and business license within four months and less than two years after filing application, respectively, creating a new record of speed for foreign banks applying for establishment of branches in Mexico from scratch. Also, approved with 14 corporate products in five categories of loan, deposit, remittance, trade finance and foreign exchange transactions, it becomes the foreign bank with the most categories of products at the time of opening.

China and Mexico have seen historic opportunities in comprehensive and rapid development of bilateral relations over the past few years. The bilateral cooperation in economic and trade have resulted in new fruits and ever-increasing trade volume. China has been the second largest trade partner of Mexico for 13 successive years while Mexico has been the second largest trade partners of China in Latin America for six successive years. In 1972 when the two countries established diplomatic relations, the bilateral trade volume was below USD 13 million, while in 2015, the total import and export volume between the two countries, according to China's statistics, reached USD 43.85 billion, up by over 3,000 times. In addition, with a remarkable economic size and growth potential, Mexico is implementing structural reforms. The opening of the energy, electric power and telecom markets has led to increasing investment opportunities in infrastructure, automobile, aerospace and other sectors, attracting more Chinese enterprises to invest and establish business in Mexico. The increase in bilateral trade and enterprises "going global" raises more requirements on diversified international financial service which should balance the development of enterprises in both countries and benefit cooperation in economy and trade.

According to an official of ICBC (Mexico), the establishment of the institution is an important part of ICBC’s internationalization strategy as well as a major achievement in trade and finance cooperation of China and Mexico. Upon official opening, ICBC (Mexico) will become the service center of ICBC in Mexico and connect North American free trade zone and Latin America zone to provide Chinese enterprises in Mexico, Mexican enterprises with trade and investment in China and large Mexican enterprises with comprehensive financial services and actively promote the development of economic and trade relations between China and Mexico. In addition, by leveraging global resources and technology platform, ICBC (Mexico) will also be committed to serving Mexico's economic and social development, and becoming a reputable and influential foreign bank.