ANZ opens in city鈥檚 FTZ
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Australia & New Zealand Bank opened its new sub-branch in the Shanghai pilot free trade zone yesterday during the “Australia Week in China” as China’s reform attracts more foreign investment.
ANZ is among foreign banks including HSBC, Citi, Standard Chartered and DBS that have opened in the zone. Under the FTZ’s current regulatory framework, the sub-branch will offer a range of banking products and services including trade finance, foreign exchange, commodity finance and cash management in both foreign and local currencies.
An Australian delegation with more than 600 senior government officials and business executives, the biggest group of its kind in history, arrived in China on Monday for the event that aims to promote Sino-Australia trade and investment.
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