OREANDA-NEWS. July 30, 2013. The Bank of East Asia (“BEA”) announces that its wholly-owned subsidiary, The Bank of East Asia (China) Limited (“BEA China”) will open its Shenzhen Qianhai Sub-branch.

With the opening of the sub-branch, BEA China becomes the first foreign bank in Mainland China to open a newly established outlet whose prime focus is to serve clients in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (“Qianhai”).

Dr. David K.P. Li, Chairman & Chief Executive of BEA and Chairman of BEA China, says, “The opening of our Shenzhen Qianhai Sub-branch tomorrow marks another important milestone in BEA China’s development in Qianhai. BEA is the largest independent local bank in Hong Kong, and BEA China operates one of the most extensive branch networks of any foreign bank in Mainland China, as well as in Shenzhen. Our Group will continue to actively participate in the development of Qianhai and the financial relationship between Hong Kong and Mainland China.

”BEA is dedicated to the development of and financial innovation in Qianhai. With new policy measures recently implemented in Qianhai, BEA has stepped up the pace of its involvement in Qianhai. In January 2013, BEA extended its first cross-border Renminbi loan to a Qianhai-based enterprise, becoming one of the first foreign banks to offer cross-border Renminbi lending services in Qianhai. More recently, BEA China entered into strategic co-operation agreements with the Qianhai Equity Exchange and the Shenzhen Qianhai Financial Assets Exchange. The establishment of the Shenzhen Qianhai Sub-branch will further enhance the Bank Group’s ability to serve clients in Qianhai.