Bangkok--28 Nov--Bangkok Bank
Bangkok Bank, backed by the strength of an extensive international network that includes its wholly-owned subsidiary Bangkok Bank (China), is supporting customers and investors interested in doing business in China and benefiting from the opportunities provided by the Chinese government’s establishment of the Shanghai Free Trade Zone. The bank is taking more than 60 customers from ASEAN countries to the ‘Bangkok Bank Brings ASEAN to Shanghai’ event to learn about the Chinese government’s economic measures and to network with local business people. The event will be held from 27-29 November, 2014 in Shanghai, the People’s Republic of China. Bangkok Bank (China) has five branches, and was recently granted a license from the Chinese government to open a 6th branch, in the Shanghai Free Trade Zone, in the first quarter of next year.
Bangkok Bank President Chartsiri Sophonpanich said: “The Chinese government officially announced the establishment of the Shanghai Free Trade Zone (FTZ) on 29 September 2013 as a prototype for future economic reform in terms of transforming government processes and management, encouraging cross-border investment, relaxing foreign exchange controls and enhancing the financial sector. In addition, the China Banking Regulatory Commission (CBRC) on Banking Supervision in China (Shanghai) Pilot Free Trade Zone announced measures that include supporting financial institutions in the Shanghai FTZ.”
Bangkok Bank will hold its ‘Bangkok Bank Brings ASEAN to Shanghai’ event on 27-29 November, 2014 in Shanghai, the People’s Republic of China. It will be joined by more than 60 medium to large-sized corporate customers from ASEAN countries such as Laos, Vietnam, Myanmar and Thailand and bring together suppliers of raw materials with large corporates and multinational companies who are manufacturers and exporters in industries such as transportation, auto-parts, electronics, petrochemicals, plastics and agriculture. These customers have the potential to do business in China and are keen to explore the opportunities there. During the trip they will make connections with local business people and visit the Shanghai FTZ as well as hearing speeches and receiving special presentations from local experts, including those with particular knowledge about the Shanghai FTZ. The bank’s customers will learn about the opportunities arising from the Chinese government’s support measures for business plus the benefits of Bangkok Bank’s strong international network of 27 branches and one representative office in 13 major economies around the globe.
“The bank’s experience in Asia began with the opening of its first international branch in Hong Kong in 1954,” said Mr. Chartsiri. “We have extensive knowledge of Chinese markets and doing business in China. We also have a good understanding of business-related rules and regulations, good relationships with local government agencies, and a strong customer base. Therefore we are ready to give advice and provide financial services to Thai and Chinese customers as well as customers from other countries who are interested in expanding their businesses to China. Mr. Suwatchai Songwanich is the CEO of Bangkok Bank (China) and our China operation consists of five branches, in Shanghai, Beijing, Xiamen, Shenzhen and Chongqing.”
Bangkok Bank (China) recently received approval from the Chinese government to operate its 6th branch in the Shanghai FTZ. The bank plans to open this branch in the first quarter of 2015 in the Waigaoqiao Bonded Zone of the Shanghai FTZ to support its customers’ future business opportunities. These include expanding to trading areas that have been reformed in line with Chinese government policies, promoting economic growth in both countries, and enhancing business connections between members of the bank’s international network, which is a core policy element of the bank.
Bangkok Bank (China) CEO Suwatchai Songwanich added: “Bangkok Bank (China) always focuses on providing products and services to meet customers’ needs and support the rapid growth in trade between Thailand and China. The bank offers business loans and trade services including trade finance, cash management, foreign exchange, international funds transfers, and also Renminbi settlement and deposits from corporate and foreign customers in order to have more capital to support loan expansion.”