French bank BNP Paribas has opened its second branch in Shanghai's pilot free trade zone to further expand its presence in China's frontier of reform and opening up.
Located in Waigaoqiao area, the bank's second branch in the zone will provide a wide range of banking products and services to clients.
Its business and operational activities, risk management, compliance, legal, and operational controls will be centralized at head office level in BNP Paribas (China).
'With the opening of the new branch in the zone, BNP Paribas will be in a better position to help its clients seize the opportunilties arising from interest rate liberalization, yuan internationalizatioin and other offshore business,' said Peter Kwok, acting chief exective officer of BNP Paribas (China) Ltd.
BNP Paribas was among the first financial companies to establish a presence in the FTZ when it opened BNP Paribas Commodities Trading (Shanghai) last year.
Foreign law firms to get more access via FTZ
2014-11-27Shanghai to speed up FTZ reforms: mayor
2014-11-03FTZ model ‘will expand nationwide‘
2014-10-29China expects second FTZ batch by year end
2014-10-28FTZ edges city with higher trade value
2014-10-24Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.