OREANDA-NEWS. August 06, 2012. The Bank of East Asia (“BEA”) announces that its wholly-owned subsidiary, The Bank of East Asia (China) Limited (“BEA China”), has opened a new “cross-location” sub-branch in Zhanjiang City, Guangdong Province, reported the press-centre of BEA China. 

Commenting on the opening, Dr. David K.P. Li, Chairman & Chief Executive of BEA and Chairman of BEA China, said, “We are pleased to extend our comprehensive range of banking and financial services to the people and businesses of Zhanjiang.

This new outlet is an important addition to our branch network in Southern China, and we look forward to serving the needs of our Zhanjiang Sub-branch customers.”

Nicknamed the “Harbour City”, Zhanjiang is located at the southwestern end of Guangdong Province. In addition to being a major port and trade centre in southern China, the city maintains a diversified industrial base. The Zhanjiang Government plans to accelerate the upgrade of the city’s industrial structure and its development into a modern port city.

Zhanjiang Sub-branch is also the eighth “cross-location” sub-branch established by BEA China in Guangdong under the liberalisation measures of Supplement VI to the Mainland and Hong Kong Closer Economic Partnership Arrangement. The other seven “cross-location” sub-branches are located in Foshan, Zhongshan, Huizhou, Zhaoqing, Jiangmen, Dongguan, and Shunde. BEA China currently operates one of the largest foreign bank branch networks in Guangdong, with a total of 31 outlets in the province.

Zhanjiang Sub-branch provides comprehensive Renminbi and foreign currency banking services to all customers. Services include account and deposit services, loans and advances, bill acceptance and discounting, documentary credit and bank guarantees, remittance and settlement, foreign exchange, derivative products, debit cards and credit cards, agency services for general and life insurance products, and overseas investment services for local residents and enterprises.