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Calyon reveals local growth blueprint for China

CALYON is set to start business with its local incorporation in Shanghai in March in a bid to go deeper into the Chinese market.

Calyon, Credit Agricole's corporate and investment banking entity, said it had received approval from the China Banking Regulatory Commission to incorporate its five branches in Shanghai.

The new entity, Calyon (China) Ltd, will seek more business in corporate banking, structured and leveraged finance, export finance and syndication and capital markets.

"Our local incorporation marks a new milestone in the bank's 111-year history in the China market," said Patrice Couvegnes, head of Calyon for Asia (ex-Japan) and chairman of Calyon (China).

"China is one of the most important Asia markets to Calyon, especially seeing its stable economy amid the bleak economic environment."

The French bank said it selected Shanghai because of the city's rising position on the global financial stage.


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