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The article assesses the plan of the Industrial and Commercial Bank of China (ICBC) to launch an initial public offering as approved by the China Banking Regulatory Commission. A comparison of the public offering of ICBC with the IPO of the China Construction Bank and the Bank of China (BOC) is discussed. The financial structure of the IPO of ICBC is described. The stock price of the BOC is assessed.

Focuses on the efforts of major state-owned banks to intensify internal restructuring in China. Occurence of downsizing and layoffs; Issuance of intial public offerings; Modification of employment structure.