STANDARD Chartered Bank yesterday opened a representative office in Nanning, the capital of China's Guangxi Zhuang Zhi Autonomous Region, its 13th branch or representative office on the mainland.
Being the first foreign bank to start an operation in Nanning, the bank has positioned itself in a strategically important city.
Nanning's access to Vietnam and Hong Kong, coupled with its well-developed infrastructure, brings much foreign investment and cross-border trade.
The city's Special Economic Zones, which include the new hi-tech industrial development area and economic and technical development zone, are of considerable importance to the city's future development.
The immediate focus of Standard Chartered's business in Nanning will be to introduce foreign investment and partners to the city, to arrange foreign loans and trade finance, and to provide advisory and liaison services.
Commanding the largest branch network in China among foreign banks, Standard Chartered was also the first foreign bank to operate in Nanjing, Ningbo and Jiangsu province.