Goldman Sachs reportedly cashed out the last of its H-share holdings in Industrial and Commercial Bank of China (ICBC) Monday for $1.1 billion. The move marked Goldman's sixth sale of ICBC shares in four years. By all measures, Goldman's investment in ICBC has been a smashing success - the US-based bank has brought in some $10 billion from sales of ICBC shares since buying into its Hong Kong float back in 2006.

When domestic banks first opened to foreign investment, they had their sights set on more than just overseas funding. What local institutions really wanted was an introduction to the strategies employed by their foreign counterparts. Indeed, Goldman has done much to guide ICBC in terms of its operations, risk management and investments.

For Chinese investors, Goldman's retreat is nothing to panic about. I think the market realizes this already. In fact, A-shares of ICBC rose 0.72 percent Monday after word broke of Goldman's withdrawal - hardly a show of pessimism.

The author is Zhang Wei, an economic commentator.