Bank of East Asia (China) Ltd. (BEA China) has gained go-ahead from the Shenzhen banking regulatory authority to build a sub-branch in the Qianhai Shenzhen-Hongkong Modern Service Industry Cooperation Zone.
The sub-branch, with a registered capital of CNY 10 million, will make BEA China one of the first foreign-invested banks to set foot in the Qianhai Cooperation Zone. The sub-branch will come with financial services and explore innovation business like cross-border settlement for companies registered in the zone.
China Merchants Bank Co., Ltd. (SHSE: 600036 and SEHK: 3968) has been authorized to build a branch in the Qianhai Cooperation Zone. ICBC is picking site for a debut of its operation in the zone.
Source:
http://www.sinocast.com/readbeatarticle.do?id=93873
