Industrial and Commercial Bank of China, the country’s largest commercial bank, wants to buy an overseas lender and intends to launch a subsidiary in Russia, Reuters reported. Executive Vice President Wang Lili revealed the bank’s strategy on the sidelines of a China-Russia economic summit. ï¿½We have been talking with a number of potential targets but we have not seen any concrete progress,ï¿½ she said. ï¿½It is a clear trend for the bank to speed up the process of overseas acquisitions.ï¿½ Acquisition targets could include Hong Kong lenders, she said. The bank, which is preparing for a billion-dollar listing in Hong Kong this year, also plans to open a Russian subsidiary in 2007.