Latest News:  
Beijing   Overcast/Light rain    14 / 7 ℃  City Forecast

English>>Business

Citibank praises Guizhou's economic growth (2)

By Gao Changxin and Yang Jun in Guiyang (China Daily)

09:50, November 30, 2012

Citibank isn't the only major overseas financial institution to take advantage of this rapid growth.

In June HSBC Holdings Plc launched its second rural bank in Chongqing, which has the highest number of foreign banks in the western region.

South Korea's Woori Bank, the flagship unit of Woori Finance Holdings Co, set up its first branch in Chengdu, capital of Sichuan, in January, and in April Singaporean lender DBS Group Holdings also established a foothold in western area, setting up a branch in Chongqing.

Experts believe more foreign banks will come to Guizhou province, as this rapid economic development continues.

In September, it was revealed that total deposits in Guizhou's financial institutions topped 1 trillion yuan ($160 billion) for the first time.

Zhou Daoxu, head of Guizhou's finance office, said that efforts will continue to attract more financial institutions.

"We will strengthen the finance industry and let it drive the growth of other industries," said Zhou.

Citigroup said its focus will continue to be providing a range of financial services - including cash management, syndicated loans, trade financing and foreign exchange trading, with more planned - to multinational companies, as they expand from eastern coastal to western regions.

Contact the writer at gaochagnxin@chinadaily.com.cn

【1】 【2】


We recommend:

World's highest-altitude civilian airport to start operations

Global sales of Samsung's Galaxy Note 2 tops 5 mln mark

China to open Beijing-Guangzhou high-speed rail route

China Telecom starts iPhone 5 pre-orders

Shanghai Center Tower to rise over 400m

Self-owned brands account for 11% of exports

HK's MTR buys first China-made locomotives

Staff members of bus company sort notes, coins

Construction of 6th Yellow River bridge underway

Email|Print|Comments(Editor:梁军、马茜)

Related Reading

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Chinese naval escort taskforces

  2. China's special forces in training

  3. Most creative 'Santa Claus' (I)

  4. Nutritious lunch provided in Taipei

  5. On 1st high-speed line through high-latitude regions

  6. China's savings rate world's highest

  7. Is marriage the grave of love?

  8. Soon, You Can Eat KFC on Japan Airlines

Most Popular

Opinions

  1. Spend it again, Sam
  2. The paradox of China's stock market
  3. Reforms to give more weight to capital
  4. Obama's big test: averting "fiscal cliff"
  5. Commentary: Future money uncertainties
  6. Social progress in tolerance to ‘Nail Household’
  7. Preventing abuse of power in physical exam
  8. Will China run out of water by 2030?
  9. What’s behind pupils' bread and milk lunch?
  10. China's solar panel seeking revival at home

What’s happening in China

Nutritious lunch provided in Taipei's elementary school

  1. Principal fired over sex abuse allegations
  2. Train rolls into mysterious "no man's land"
  3. Seven imprisoned in kidney trading case
  4. Ministry orders deadly traffic signals fixed
  5. Villagers protest delayed election