Established on November 28,1985,Xiamen International Bank(XIB) was the first joint-venture bank in China, with its location in the southern Xiamen Special Economic Zone.The bank is primarily engaged in general banking business,providing a full range of banking and financial services to customers including savings accounts,current accounts,fixed deposits,foreign currency deposits,industrial,commercial and construction lending housing installment loans,import and export trade finance,remittance,foreign exchange and consulting services.With the permission of China People's Bank ,the central bank of China,XIB was the first very few foreign banks who can operate a renminbi business in China.
  The bank is 75 percent owned by provincial and municipal government firms:Fujian International Trust and Investment Corp.(Fitic);Xiamen Construction and Development Corp;Min Xin Holdings,a Hong Kong listed arm of Fitic;and the Industrial and Commercial Bank of China .The remaining equity is held by foreign partners,including the ADB(Asian Development Bank),the Long-Term Credit Bank of Japan and the Sino Finance Group (of the U.S).
  XIB has established two branches in Fuzhou and Zhuhai,with representative offices in Quanzhou and Xiamen.Together with its subsidiaries,Luso International Banking Limited (Luso)and Industrial & Commercial International Capital Limited (ICIC),XIB has a market coverage spanning Fujian ,Macau and Hong Kong.
   Luso,XIB's wholly owned subsidiary incorporated in Macau,provides a full range of banking and financial services.ICIC,51% owned by XIB-Industrial and Commercial Bank of China holds 49%---is a restricted license bank in Hong Kong ,providing services such as trade finance, mortgage loans,industrial and commercial loans,construction lending and consulting.