China'S First Foreign-Funded Bank County Branch Opens

Huang Bijuan, China's president and chief executive of HSBC, said: "China's County oriented export-oriented economy is full of vitality and is an important driving force for national economic growth.

By entering the cities and counties that are export-oriented enterprises, the foreign banks can be more close to customers and markets, and further promote the development of local economy.

HSBC Kunshan branch is part of HSBC Suzhou branch, which focuses on public business and provides international financial solutions for Chinese and foreign enterprises, including the wide range of Renminbi and foreign currency services such as enterprise deposit and loan, business financing, trade services, cash management and financial services, HSBC branch said.

Meanwhile, the Kunshan branch also provides Renminbi and foreign currency deposits and basic account services to local residents and overseas people.

Zhu Weijun, President of HSBC Suzhou branch, said: "the scale of export-oriented economy in Jiangsu county is large, and quite a few of the top 100 counties in Jiangsu are in South of Jiangsu. In recent years, it has shown the trend of extending from South of Jiangsu to northern Jiangsu and developing in an all-round way.

There are many foreign investment in many counties at the provincial level, with large number of export enterprises and rapid economic development.

Kunshan is also known as a gathering place for foreign investment.

With the service capabilities of HSBC Suzhou branch and the establishment of Kunshan sub branch, HSBC will be closer to Kunshan enterprises and provide financial services linking local and overseas markets.

At present, HSBC Suzhou branch has 4 branches, including Kunshan branch, which is the largest service network in Suzhou's foreign banks.

As far as the whole country is concerned, HSBC China has 106 service outlets in 27 cities, including 23 branches and 83 sub branches. It is the largest and most widely distributed foreign bank in mainland China.

A county branch is a branch of a foreign-funded bank established in accordance with the relevant provisions of a commercial bank to set up a branch in the same city.

The county sub branch established by HSBC is different from its sub branches established in Guangdong under the CEPA supplementary agreement six. It is also different from the village bank established by HSBC village bank to serve the three rural issues.