The new branch will engage in wholesale banking activities, including lending, acceptance of wholesale deposits, trade finance, US dollar clearing and treasury. As the initial operating platform in the US, the New York branch will use CCB’s financial resources, global network and infrastructure to provide premium financial services to its clients, including multinational corporations and financial institutions.
Guo Shuqing, Chairman of CCB has stated that the United States is one of China’s most important trade and economic partners, and China is currently the US’s second largest trading partner. The establishment of CCB’s branch in New York, the world’s largest financial center, will significantly improve CCB’s ability to provide worldwide services to its customers. The new branch will also enable the bank to better facilitate Chinese-American economic and trade investment and financial cooperation and will help CCB to make significant progress towards its vision of becoming a truly global bank.
