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China urges impartial handling of issue concerning ICBC Madrid offices

Xinhua, February 18, 2016 Adjust font size:

China on Thursday asked the Spanish side to guarantee the legitimate rights of Chinese companies and personnel in Spain after the reported raid of the Madrid offices of the Industrial and Commercial Bank of China (ICBC) by Spanish law enforcers.

The Chinese government always demands that Chinese companies working abroad strictly abide by the laws, both of China and the country they are working in, said Foreign Ministry spokesperson Hong Lei at a routine press briefing.

Spanish Civil Guards reportedly raided the Madrid offices of ICBC as part of a joint operation by the Civil Guard and Spain's Anti-Corruption Attorney's Office against alleged money laundering.

Hong said the Chinese Government hoped that the Spanish side would deal with the issue in a just way according to law, protect the legitimate rights and interests of Chinese companies and personnel, and safeguard the sound development of China-Spain ties.

China-Spain relations have been positive in recent years, with deepening pragmatic cooperation in all sectors, he said.

Spain has become one of the most important investment destinations for Chinese companies and financial institutions, he said, adding that investment cooperation has brought benefit to both sides, especially the local people.

Wednesday's raid was reported to be connected with a major police operation known as Operation Snake, which since being launched in May 2015 has seen over 65 searches carried out in Barcelona, Madrid and Valencia and led to over 30 arrests. Endi