BEA expands Guangdong network

BEA China followed the “cross-location” trend in Foshan with the opening of its sub-branch. The bank group became one of the first mainland-incorporated foreign banks to open a “cross-location” sub-branch in Guangdong Province.

This is made possible by the liberalisation measures of Supplement VI to the Mainland and Hong Kong Closer Economic Partnership Arrangement.

In addition, BEA China has opened a new sub-branch in Guangzhou on Beijing Road, in the heart of Guangzhou's oldest and largest shopping district. With the opening of the Guangzhou Beijing Road Sub-branch, BEA China now operates a total of nine outlets in Guangzhou.

BEA China currently operates the largest branch network of any mainland-incorporated foreign bank in Guangdong Province, with three branches and 20 sub-branches in the cities of Shenzhen, Guangzhou, Zhuhai, and Foshan. BEA also maintains a representative office in Dongguan.

In addition to the establishment of a “cross-location” sub-branch in Foshan, BEA China has received approval from the China Banking Regulatory Commission to
establish “cross-location” sub-branches in Zhongshan and Huizhou in Guangdong Province, which are expected to be opened in the first quarter of this year.

"With the implementation of the liberalisation measures, we will continue to expand our presence in Guangdong Province and contribute to the continued economic development of our country," says Dr. David K.P. Li, Chairman & Chief Executive of BEA and also Chairman of BEA China.

Foshan Sub-branch and Guangzhou Beijing Road Sub-branch will further strengthen BEA China's operations in Guangdong Province by providing personal and commercial banking customers with convenient access to banking and financial services in key locations throughout southern China.

These two sub-branches provide comprehensive foreign currency and Renminbi banking services to all customers. Services include account and deposit services, loans and advances, bill acceptance and discounting, documentary credit and bank guarantees, remittance and international settlement, foreign exchange, derivative products, agency services for general and life insurance products, and overseas investment services to local residents and enterprises.