Westpac opens bank branch in China
The Westpac Banking Corporation Ltd has opened a new branch in China. The bank already has a presence in Asia with offices in Beijing and Hong Kong. The new branch in Shanghai was confirmed after the China Banking Regulatory Commission approved a financial license to the Australian bank.
Westpac's general manager of Asia Yogan Rasanayakam said in a statement that the new branch provides the Westpac with a strong capacity to assist Australian, New Zealand and Chinese customers with business interests in the region.
Mr Rasanayakam said, "As Australia's largest trading partner, China offers significant growth opportunities for many of our customers,"
"Today's opening of Westpac's Shanghai branch is an important part of our strategy to be represented in the markets where our customers need us," he added.
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