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Chinanews, Xi'an, December 26 – Foreign banks are doing their best to build their business networks in China after the country fully1 opened its financing market. Besides big cities, like Beijing and Shanghai, foreign banks are ready to extend their service to the small cities in the western and central China, too. HSBC set up its 29th subbranch in the Chinese mainland in Xi'an, Shaanxi Province last Friday (December 22).
Xi'an has scored great achievements in making a stable and flourishing market, which has attracted investors2 from both home and abroad. Statistics show that more than 30 of the Fortune-500 enterprises have started business in Xi'an, and many local enterprises have been on their way of internationalization, thus the demand for international financing service in Xi'an has become stronger than ever, which is a good opportunity for foreign banks. “The registration3 of foreign banks will help them to do a better business in China, for it will savor4 the extension of subbranches, as well as the ability of RMB financing. HSBC will take advantage of its numerous subbranches in the world, to offer the clients in China the most satisfactory services ever available, ” said Zheng Haiquan, the director of HSBC Shanghai.
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