China’s Bank of Communications opens Ho Chi Minh branch

China’s Bank of Communications expanded in Vietnam with its Ho Chi Minh City branch. It has a charter capital of US$30 million.

The Ho Chi Minh City branch will provide payment services in Chinese Yuan to facilitate Vietnamese students in China as well as Chinese investors in Vietnam, according to Hu Huaibang, the Chair of the Board of Directors of the Bank of Communications..

Chairman of the municipal People’s Committee Le Hoang Quan said he believed that the bank’s branch in HCM City would create favourable conditions for Chinese businesses to invest in Vietnam in general and in HCM City in particular.

The event will also help bolster cooperation between the twin cities of Ho Chi Minh and Shanghai, he said.