ICBC Deal Shows U.S. Tech Giant IBM Still Engaged In China
Industrial and Commercial Bank of China (ICBC) has deployed a new IBM mainframe computer system, the two companies said on Tuesday, boosting the U.S. technology giant’s credentials in the country. IBM’s joint announcement with ICBC, the world’s largest bank by market capitalization, shows IBM is still doing business with China’s state-owned banks despite widely circulated media reports in May that suggested China’s central government had ordered banks to remove IBM equipment because of cyber security concerns.
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