China CITIC Bank has launched a London branch.

 

中信银行在伦敦开设分行。

 

It is the first China CITIC Bank overseas branch. Officials are describing its opening is a significant milestone¹ for China CITIC Bank and the CITIC group's international development.

 

Almost 300 guests, representing the Chinese and British governments, business and academic institutions attended the launch, which was held in the historic Drapers' Hall in the heart of the City of London.

 

Chairperson and the executive director of China CITIC Bank, Li Qingping, told the gathering² that London is one of the world's largest and most vibrant³ financial trading centers, as well as the largest offshore⁴ renminbi center in Europe.

 

"Opening the London branch will further support the bank's customers and greatly enhance the cross-border service facilities to back both the Chinese-funded enterprises and local UK enterprises with more comprehensive package of financial service," she said.

 

China's ambassador to the United Kingdom, Liu Xiaoming, offered his congratulations on the opening of the CITIC Bank London Branch, saying it marks a new development of ever-closer China-UK financial cooperation.

 

China CITIC Bank was established in 1987 and completed the duo-listing of A+H shares on the Shanghai Stock Exchange and the Hong Kong Stock Exchange in April 2007. It has now grown into a comprehensive financial group with a total asset volume of more than 6.2 trillion yuan (about 900 billion USD), with more than 600,000 corporate⁵ clients and more than 88 million retail⁶ customers. The bank's wide-ranging business operations include corporate finance, retail finance, and market finance.

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