China Urges Fair Investigation of Alleged ICBC Case in Spain
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The Chinese Foreign Ministry has issued a statement, urging Spanish authorities to investigate an alleged money laundering case involving a Chinese bank in a just and fair way.

The comment comes as local media revealed that Spanish police raided the offices of the Industrial and Commercial Bank of China - ICBC - in Madrid.

Five senior officers from the bank have been taken into custody.

Chinese Foreign Ministry spokesman Hong Lei.

"Bilateral ties between China and Spain have been sound in recent years, with deepening cooperation in various fields. Spain has become an important investment destination for Chinese entrepreneurs and financial institutions. China has been asking its companies to abide by laws both at home and abroad. At the same time, we also hope that other countries can deal with issues that arise according to law, to ensure that the legitimate rights of these Chinese companies and personnel are protected. "

It's being reported that Spanish authorities raided the ICBC offices on Wednesday as part of a joint operation connected to alleged money laundering and tax fraud.

It's said to be connected with a major investigation known as Operation Snake, which has led to over 30 arrests in Barcelona, Madrid and Valencia since May.

The bank has responded that it is cooperating fully with the Spanish authorities.

ICBC is China's largest bank in terms of assets. A Beijing-based spokesman says strictly implementing anti-money laundering regulations and strictly operating within the law have always been among ICBC's fundamental operations and management principles.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan