(SOUNDBITE) (English) REUTERS REPORTER, JON GORDON, SAYING: "Need some quick cash? One solution for you - sell a billion dollars worth of shares in the world's largest lender." That's what Goldman Sachs has done - offloading yet another chunk of its stake in the Industrial and Commercial Bank of China. Now it was a block-trade transaction priced at an estimated 3% discount to yesterday's Hong Kong close. And it's actually the fifth such sale Goldman has made since June 2009 - all in all worth about 8 and a half billion dollars. So why are they selling now just as China's economy is on the rebound? Well one reason: the new Basel III rules. They raise the amount of equity capital banks need to offset the risks of holding minority stakes in other financial institutions. Another reason may be fatigue. Instead of trading their expertise for market access in China, many Western banks who bought these stakes back in 2006, 2007 are finding themselves in these one-sided partnerships with few prospects the country's financial sector will open further with more liberalization. (SOUNDBITE) (English) Chief global equity strategist, Jefferies, SEAN DARBY, SAYING: "There's been a re-appraisal of their overseas business activities. Just by having a stake in a company doesn't necessarily mean that there's going to be on-going business. And I think there's always been perhaps a misallocations in terms of the objectives versus the capital." Goldman bought its then 4.9% stake in ICBC back in April 2006. That was just before the Chinese bank's Hong Kong IPO. As you can see, shares in ICBC are up 65% from their market debut. (SOUNDBITE) (English) REUTERS REPORTER, JON GORDON, SAYING: "So yes, a handsome financial reward, but disappointing for Western firms that had hopes of gaining traction in China's now massive banking market." ENDS