BRIEF-ICBC's Wealth Management Unit Worth 16 Bln Yuan Gets Regulatory Approval To Begin Operations

May 22 (Reuters) - Industrial And Commercial Bank Of China Ltd :

* SAYS ITS WEALTH MANAGEMENT UNIT WITH REGISTERED CAPITAL OF 16 BILLION YUAN ($2.32 billion) GETS BANKING AND INSURANCE REGULATOR'S APPROVAL TO BEGIN OPERATIONS Source text in Chinese: Further company coverage: ($1 = 6.9014 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)