ICBC's Shanghai-listed A shares climbed 2.68 per cent to 5.75 yuan (76 cents U.S.), giving it a market capitalization of US$254-billion. That exceeded the $251-billion capitalization of Citigroup, previously the world's biggest bank, when its shares closed at $50.73 in New York on Friday. HSBC Holdings was in third place with $215-billion.
The pace is so fast in China, it will be very soon that many large Chinese companies will play a very dominant role in the global economy. Well done China.