BEA China opens in Zhongshan

The Bank of East Asia became the first mainland-incorporated foreign bank to open a “cross-location” sub-branch in Zhongshan, Guangdong Province.

It was implemented under the liberalisation measures of Supplement VI to the Mainland and Hong Kong Closer Economic Partnership Arrangement.

"We are delighted to establish a “cross-location” sub-branch in Zhongshan, which is strategically important as a major industrial centre in the Pearl River Delta," says Dr. K.P. Li, Chairman & Chief Executive of BEA and also Chairman of BEA China.

"Given the rapid pace of economic development in Guangdong, the Zhongshan Sub-branch is an important addition to our network and will enable us to better serve the diverse needs of our customers in Zhongshan and neighbouring areas," he added.

Located at the western side of the mouth of the Pearl River, Zhongshan has experienced tremendous industrial growth in recent years. BEA China currently operates the largest branch network of any mainland-incorporated foreign bank in Guangdong Province, with three branches and 21 sub-branches in the cities of Shenzhen, Guangzhou, Zhuhai, Foshan, and Zhongshan.

BEA also maintains a representative office in Dongguan.

In addition, BEA China has received approval from the China Banking Regulatory Commission to establish a “cross-location” sub-branch in Huizhou, Guangdong, which is expected to open in the first quarter of this year.