China Construction Bank launches first overseas ATM in Australia

China Construction Bank, China's second-largest State-owned bank, has 17 branches or subsidiaries in 15 countries and regions, with assets totaling $120 billion..[[Geng Guoqing / Asianewsphoto]

MELBOURNE - China Construction Bank (CCB) on Sunday launched its first overseas ATM, aside from Hong Kong, in Australia's second largest city of Melbourne, indicating the Chinese financial giant's ambition to deploy business in western markets.

In his speech at the launching ceremony, Wang Hongzhang, board chairman of CCB, highly appraised Australia's marketing and investing environment for foreign financial businesses.

"Australia has always been a top priority in the CCB's overseas expansion since the country enjoys a very strong economy in the Asia-Pacific region and is an international financial," said Wang at the ceremony.

ATM is still a new concept for CCB's overseas business and branches, and the company would like to use this new asset channel to access the local market, said the CCB chief, adding that his company would help more Chinese enterprises to do business in Australia.

On behalf of the Victorian government of Australia, Treasurer of Victoria Michael O'Brien welcomed CCB's new business in Melbourne.

"CCB is the second largest bank in the world, we are honored that it chose Melbourne as a place to invest," said the minister, adding that the Victoria looks forward to strengthening and deepening relations with China in the future.

Consular General of China in Melbourne Song Yumin, CEO of the ANZ bank Mike Smith also attended the ceremony.

CCB is one of the biggest banks in China and is the market leader in wholesale, retail and investment banking business.

CCB, which was the first Chinese bank that won the approval to operate in Australia after the global financial crisis in 2008, opened its Sydney Branch in 2010 and Melbourne branch in 2012.

At present, the CCB has 17 branches or subsidiaries in 15 countries and regions, with assets totaling $120 billion.

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