Hang Seng unveils Foshan sub-branch

Hang Seng China opened its first cross-city sub-branch in the Nanhai District, Foshan City.

Approval for its Zhongshan sub-branch, which is housed at the  Hang Seng Bank Building, was granted by the Guangdong Branch of the China Banking Regulatory Commission last month. Since the beginning of December last year, Hang Seng China has opened two new sub-branches — one in Guangzhou and one in Foshan.

Mrs Margaret Leung, Vice-Chairman and Chief Executive of Hang Seng Bank, said: "There is great potential for further financial cooperation between Hong Kong and mainland China — the Central and Hong Kong governments have been very supportive of new initiatives."

"The Mainland market is a key driver of Hang Seng's future business, with the Pearl River Delta, Yangtze River Delta and Bohai Economic Rim as strategic regions in our long-term development. Hang Seng will continue to invest in the Mainland market. Hang Seng's second cross-city sub-branch will soon open in Zhongshan and we will continue to explore opportunities to set up cross-city sub-branches in other cities in Guangdong in support of our commitment to long-term business growth on the Mainland," Mrs Leung added.

Ms Au King Chi, Permanent Secretary of Hong Kong’s Financial Services and the Treasury and Co-chairperson of the Expert Group on Hong Kong/Guangdong Financial Co-operation noted that the banks in Hong Kong will continue to make full use of the opportunities provided under CEPA by offering quality financial services, loans and corporate financing to clients in Guangdong and contributing to the transformation and upgrade of Guangdong's enterprises.