ICBC(SH:601398) Sou Hu Cai Jing·2025-11-25 14:12Core Insights - The Industrial and Commercial Bank of China (ICBC) is expanding its gold storage business by establishing designated warehouses in Hezhou and Sanya, aiming to strengthen its infrastructure in the physical gold sector and reduce transaction costs [1][4][6] Group 1: Business Expansion - ICBC has launched its gold storage services in Hezhou and Sanya, marking its second establishment of such services within the year [4][5] - The designated warehouses are designed to facilitate efficient gold delivery and storage, addressing local businesses' challenges related to high costs and low efficiency in gold transactions [5][7] Group 2: Strategic Implications - The move to enhance physical gold infrastructure reflects ICBC's strategic deepening in the precious metals sector and its recognition of the market's strategic value [6][7] - This initiative is expected to shift competition in the banking sector from retail-focused products to a comprehensive service model that includes storage, delivery, and supply chain finance [6][7] Group 3: Regional and International Developments - ICBC's expansion in gold storage is part of a broader trend among major banks to support the development of the gold trading market, including efforts to establish a gold warehouse at Hong Kong International Airport [8][9] - The establishment of designated warehouses in Hong Kong by major banks is aimed at enhancing the region's position as an international gold trading center [9][10]