Talks on Chinese Banks Expands Overseas

The Chinese banks are now trying to expand their presence overseas, by setting up new branches, and merging with, or buying up, overseas banking operations.

This week, the Industrial & Commercial Bank of China announced plans to open a bank in Brazil, extending its reach to Latin America's largest economy.

ICBC already has a presence in Europe and North America.

Over the last 12 months, ICBC has added five branches in Europe, several more in Asia, and has bought small banks in Thailand, Canada and the U.S.

The Bank of China already has branches in 31 countries, the most extensive network of overseas branches of any Chinese banks.

For more on Chinese banks abroad, we are joined on the line now by Mike Bastin with Tsinghua University.