FINANCIAL SERVICES | Staff Reporter, Hong Kong

BEA opens 31st branch in Guangdong

Hong Kong-based Bank of East Asia maintains its standing as the indigenous Chinese bank with the largest branch network in Guangdong.

Its subsidiary, Bank of East Asia (China) Ltd, recently opened a new “cross-location” sub-branch in Shunde District, Foshan City.

The Shunde sub-branch, BEA’s 31st in Guangdong, provides renminbi and foreign currency banking services that include account and deposit services, loans and advances, bill acceptance and discounting, documentary credit and bank guarantees and remittance and settlement, among others.

Dr. David K.P. Li, BEA Chairman & Chief Executive and Chairman of BEA China, said that given the strong cultural and economic ties between Hong Kong and Shunde, the new sub-branch will enable the bank to better serve the domestic and cross-border banking needs of customers in and around Shunde.

Shunde Sub-branch is the seventh “cross-location” sub-branch of BEA China in Guangdong established under the liberalisation measures of Supplement VI to the Mainland and Hong Kong Closer Economic Partnership Arrangement.

Located in the heart of the Pearl River Delta, Shunde is one of the country’s major manufacturing bases for electric appliances and furniture, and the home of many well-known brands. Shunde is also the hometown of many Hong Kong, Macau and overseas Chinese.

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