Westpac opens its 2nd branch in China

The new branch in the World Finance Centre in Beijing’s Central Business District is Westpac’s sixth office in the region.

Speaking at the opening in Beijing, Westpac Institutional Bank Group Executive Rob Whitfield said, “China is Australia’s largest trading partner and the opening of our Beijing branch better positions us to support our customers’ trade and investment flows between China and Australia and New Zealand.

Westpac’s Shanghai branch, which opened in 2008, has proved a great success for the bank. Within 3 years
the branch has created a sustainable business portfolio and experienced significant growth in assets and profitability.

The Beijing branch will similarly focus on supporting corporate and institutional customers. The range of services available to customers in Beijing includes foreign currency debt and capital markets products, money market and deposit products, trade finance and foreign exchange.

Westpac opened its first representative office in China in 1982. In addition to the new Beijing branch, it also has a branch in Shanghai. The Chinese branches are supported by branches in Hong Kong and Singapore and representative offices in Mumbai and Jakarta.