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Queqi Media Culture: Strengthen Financial Ties between China and ASEAN to Boost Cooperation on Trade and Financing

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by September 20, 2019 Business

The 16th China-ASEAN Expo will be held in Nanning, Guangxi, China from Sept 20 to 23, 2019. According to Wang Lei, the Secretary General of the China-ASEAN Expo Secretariat, a financial service exhibition will be arranged in Nanning International Exhibition Center for the financial institutions to display cross-border financing, cross-border settlement, fintech, ITFIN. Some financial institutions have confirmed their participation, such as Bank of China, Agricultural Bank of China, China Construction Bank, ICBC, HSBC (China) and Singapore’s DBS Bank, etc.

Banks from ten ASEAN member countries have established 36 branches in China. Banks from Singapore and Thailand have the most branches. Three Thai banks have set up 9 branches in China, out of which Bangkok Bank has established four branches in Beijing and Shanghai. These banks are engaged in businesses such as wholesale banking and retail banking, and continue to diversify. Meanwhile, branches of Chinese financial institutions are also increasing in ASEAN.

Source: NAM News Network

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