[cs_content][cs_element_section _id=”1″][cs_element_row _id=”2″][cs_element_column _id=”3″][cs_element_text _id=”4″][x_custom_headline level=”h5″ looks_like=”h5″ accent=”false”]Share the news! [/x_custom_headline][/cs_element_column][/cs_element_row][cs_element_row _id=”11″][cs_element_column _id=”12″][cs_element_content_area _id=”13″][/cs_element_column][cs_element_column _id=”14″][cs_element_content_area _id=”15″][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”20″][cs_element_row _id=”21″][cs_element_column _id=”22″][x_custom_headline level=”h4″ looks_like=”h5″ accent=”false”]The significance of ICBC, CCB and Bank of China[/x_custom_headline][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”29″][cs_element_row _id=”30″][cs_element_column _id=”31″][cs_text]
Most Australians won’t know about the Industrial and Commercial Bank of China, Bank of China or China Construction Bank. They are massive – among the biggest commercial banks in the world by assets.
All three banks are also current lenders to China Machinery Engineering Corporation, the company Adani has been negotiating with to become part of their Carmichael coal mine and rail project.
Losing these banks takes a huge amount of potential finance off the table and the fact that these banks are the top three commercial lenders to coal mining, says a huge amount about how environmentally damaging and reputationally risky the Carmichael project is.
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