Industrial and Commercial Bank of China Ltd. (ICBC) (simplified Chinese: 中国工商银行; traditional Chinese: 中國工商銀行; pinyin: Zhōngguó Gōngshāng Yínháng, more commonly just 工行 Gōngháng) is China's largest bank and the largest bank in the world. It is one of China's "Big Four" state-owned commercial banks (the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank). It is the largest bank in the world in terms of market value, the world's largest bank by deposits, and the world's most profitable bank. In October 2008, the opening of Industrial and Commercial Bank of China (Middle East) Limited ( regulated by the Dubai Financial Services Authority) allows ICBC to become the pioneer among the Chinese financial institutions for the Middle East market. With strong support from its Head Office located in Beijing, ICBC Middle East support the financial needs of the UAE and the Middle East area, provide a comprehensive international trade,overseas financing against domestic support, project finance, clearing and settlement, and a series of financial services, become a link of economic and trade exchanges between China and Middle region. December 2009, Industrial and Commercial Bank of China Limited - Abu Dhabi Branch (regulated by the Central Bank of United Arab Emirates) has granted a wholesale banking license.November 2010 officially opened, qualified as a clearing bank of the UAE local currency (Dirham). In November 2013, Industrial and Commercial Bank of China Limited, Dubai (DIFC) Branch (regulated by the DFSA) formally commenced operation together with ICBC (ME),year 2014, after transfer the rights and obligations to ICBC Dubai (DIFC) Branch, ICBC (ME) into the clearing process. ICBC Dubai Branch take the advantages of the full resource license,continue its business expansion and increase its abilities to better serve its clients, further enhanced the strong business ties between China and GCC region. ICBC's Middle East operation aims to develop into the most profitable unit per capita, while increasing its regional influential to become one of the most respectable bank in the Middle East abundant marketing resource.