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This case examines the globalisation process of ICBC, one of China’s leading banks. Specifically, it explores the path-breaking US$5.46 billion acquisition in 2008 of a 20% shareholding in Standard Bank based in South Africa and the associated strategic partnership between the two banks to develop their global business. The case traces the complete acquisition cycle, starting from developing a strategy, initial contact between the banks, through the assembly of an acquisition team, due diligence process, deal making and regulatory approval, and the management of post-acquisition integration and development of their global strategic partnership. These issues are examined from both the ICBC and Standard Bank perspectives. It thus provides a vehicle to explore the potential of cross-border acquisitions and partnerships between Chinese and foreign companies to enhance competitive advantage for both parties in the global market.