ICBC is the chosen acronym of the Industrial and Commercial Bank of China, a Beijing-based bank founded in 1984. The bank is expanding aggressively into overseas markets, and enjoys the backing of China's government as one of four major state-owned commercial banks.
According to Standard & Poor's, the bank accounts for 13% of loans in China and 15% of all deposits. ICBC has more than 16,000 locations in China and its shares trade in both Hong Kong and China.
Moving 'some' production on its smallest product line back home won't make a dent in Apple's overall manufacturing operations.
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