CHINESE BANK ANNOUNCES FOUR BRANCHES IN EUROPE
One of the largest banks in China, China Construction Bank (CCB), has announced that it will be opening its doors in Europe in four locations. These branches are located in France, the Netherlands, Spain and Italy. Wang Hongzhang, Chairman of the Board of Directors of CCB, said that the new locations will be in Paris, Amsterdam, Barcelona and Milan. He added that the openings signified an important step in the internationalisation of the bank. CCB’s European branches will at first focus on providing services for Chinese enterprises and European companies, covering the commercial financing, bank deposit and cash transactions. Muriel Penicaud, head of Business France, a governmental agency for the international development of the French economy, said at the opening ceremony that the opening of CCB’s branch in Paris reflects the deepening of the relationship between France and China. By the end of the first half of 2015, the volume of CCB’s assets reached 17,480 billion RMB and its profits amounted to nearly 67.13 billion RMB.