China's biggest bank by market capitalization Industrial and Commercial Bank of China (ICBC), officially entered Thailand's market Wednesday, according to reports.

ICBC thinks highly of the market in Thailand, and the new company in Bangkok will help ICBC develop business along the Mekong area and extend its business onto Southeast Asia, said Jiang Jianqing, chairman of ICBC.

According to reports, ICBC, by acquiring 97.24 percent of shares in ACL Bank in April, 2010, became the controlling shareholder of the bank.