BEA China opens latest branch in Nanning City

It's the bank's 29th branch nationwide.

The Bank of East Asia, Limited (BEA) has announced that its wholly owned subsidiary on the Mainland, The Bank of East Asia (China) Limited (BEA China), has opened a new branch in the city of Nanning in the Guangxi Zhuang Autonomous Region.

According to a release from BEA, with the opening of the Nanning Branch, BEA China now operates 29 branches throughout the country.

Dr. David K.P. Li, Chairman & Chief Executive of BEA and Chairman of BEA China, says, “The opening of our Nanning Branch marks a new milestone in the development of our branch network on the Mainland. Not only is it our first outlet in Nanning, but it is also our first branch in Guangxi."

Here's more from BEA:

"We are delighted to extend the reach of our banking services to customers in this fast-growing region, and strategically, Nanning Branch will strengthen our presence in southern China, an area with great potential for economic development.”

Nanning is the capital of Guangxi and a major city in southern China. In addition to being an important agricultural centre and a rich source of natural resources, Guangxi possesses a strong manufacturing sector.

With large ports along the northern edge of the Gulf of Tonkin, Guangxi has the potential to become a regional hub for trade with member countries of the Association of Southeast Asian Nations (the “ASEAN”). China is a key member of the ASEAN Plus Three Cooperation.

Nanning Branch will mainly serve domestic and foreign-invested corporate customers, offering them a wide range of banking and financial solutions in Renminbi and foreign currencies, including customer deposits; short, medium, and long-term loans; bills acceptance and discounting; trading of government bonds, financial bonds and other securities (except equities); documentary credit and bank guarantees, remittance and settlement; and credit search and consulting services.