Banking

ICBC opens new branch in Japan

(Xinhua)
Updated: 2010-11-19 15:10

OSAKA - The Osaka branch of the Industrial and Commercial Bank of China (ICBC) formally opened Friday to the public for business in Odosuji Road, Osaka, the second branch of ICBC in Japan since the opening of Tokyo branch in 1997.

General Manager of ICBC Tokyo branch Song Ning said at the opening ceremony that the opening of Osaka branch is of great significance as an extension to Kansai area, and it will provide excellent and express financial service to corporate and individual customers engaged in trade and financial business between China and Japan. Soon afterwards, Song Ning attended the unveiling ceremony together with Xue Hui, general manager of Osaka branch.

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As one of the four largest commercial banks in China, ICBC has been actively promoting an internationalized business strategy, accelerating the expansion of overseas networks. Up to present, the bank has extended its network across 21 countries and regions around the world.

Osaka is the important industrial, trade and financial center in Kansai area, with a large number of medium- and small-sized enterprises and about 100,000 Chinese residents.

Osaka branch will make full use of its advantage in the business of cross-border settlement in yuan.

ICBC is the second Chinese State-owned commercial bank to open a branch in Osaka, following the Bank of China.