OREANDA-NEWS. April 07, 2011. Recently, Societe Generale set up its 6th branch in Hangzhou. The new branch will offer services, including cash management, trade financing and risk hedging products linked with foreign exchange, commodity and interest rate, to the local enterprises and transnational companies, reported the press-centre of Societe Generale.

The branch will also provide individuals with personal banking services, such as wealth management, home mortgage lending and student loans.

When asked why the French bank chose Hangzhou as the location of its branch, Zhang Yongguang, CEO of Societe Generale China, answered that the manufacturing and service industries were advanced in Hangzhou, where many good private enterprises and SMEs were located.