CCB opens New York branch

Source: Xinhua | June 8, 2009, Monday |

Print Edition

CHINA Construction Bank Corp, the world's second-largest bank by market value, opened its first branch in the United States in New York City last Friday, marking a significant milestone in the domestic bank's global strategy.

CCB Chairman Guo Shuqing said at the opening ceremony that the new branch further extends its global presence.

The establishment of CCB's branch in New York, the world's largest financial center, will significantly improve CCB's ability to provide worldwide services to its customers, he added.

The New York branch will engage in wholesale banking activities, including lending, acceptance of wholesale deposits, trade finance and US dollar clearing, CCB said.

As the initial operating platform in the US, the New York branch will use CCB's extensive financial resources, robust global network and solid infrastructure to provide premium financial services to its clients, including multinational corporations and financial institutions, the bank said.

"The new branch will also enable CCB to better facilitate Chinese-American economic and trade investment and financial cooperation, and will help CCB make significant progress toward its vision of becoming a truly global bank," said the chairman.

Finance

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CCB opens New York branch

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