ANZ continues investment in West China with new branch in Chengdu
ANZ China today announced a further milestone in its expansion in West China with the establishment of a new branch in Chengdu, the capital and the largest city of Sichuan Province.
ANZ Chief Executive Officer Mike Smith said: “As one of China’s most vibrant and prosperous cities, Chengdu is an important contributor to economic growth and development of the West China which is a strategic market for ANZ in China.
“With the increasingly cross-border trade and investment needs between Sichuan province, the rest of Asia and Australia, ANZ has the international capability and local knowledge to support Sichuan based companies with their expansion across Asia Pacific. As the only locally incorporated Australian bank in China, we’re in a unique position in supporting the customers in industries such as commodities, energy and agriculture,” Mr Smith said.
As ANZ’s second outlet in West China, ANZ China Chengdu branch will offer a full range of products and services including trade and supply chain, cash management, markets and relationship banking services for corporate customers. The new branch is located in the downtown business area at International Finance Square.
In the past decade, Chengdu has attracted huge investment into infrastructure under the Chinese government’s “Go West” Strategy, shaping it into a trading and logistics hub for the West China region. The economy in Chengdu has rapidly developed with double-digit annual GDP growth rate over the past decade.
ANZ established its Chengdu operation hub in March 2011. The wholly owned subsidiary of the ANZ Group employs around 220 staff at present and will continue to grow to reach a work force of around 800 to 1,000 to support ANZ’s growth strategy in the next few years.
ANZ has had a presence in China since 1986 and was locally incorporated in 2010. It has branches in Beijing, Shanghai, Guangzhou, Chongqing and Hangzhou, as well as an operations centre in Chengdu. It also has strategic partnerships with Shanghai Rural Commercial Bank and Bank of Tianjin.