Standard Chartered China opens Xi'an branch
Updated: 2011-08-30 18:26
By Lu Hongyan (chinadaily.com.cn)
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Xi'an, SHAANXI - Standard Chartered Bank (China) Limited ("Standard Chartered China") celebrated the opening of its Xi'an Branch today, signaling its successful expansion across the West Golden Triangle economic region, and a major step forward in the Bank's development in China.
As the first foreign bank in Xi'an Hi-Tech Developing Zone, and Standard Chartered's fourth branch in Western China, the Xi'an Branch further showcases the bank's strong support of China's "Grand Western Development Program", and the commitment to the sustainable development of both economy and society in Western China.
Standard Chartered China also launched a new community initiative called Goal Programme with Wu Yaping, Vice-Chairperson of the Shaanxi Provincial Women's Federation and Wei Wei, China National Director of Right To Play, an international humanitarian and development organization. The three-year program aims to help 3,600 female youths develop life skills, education and empowerment to create a better future. The program will also identify Goal Champions, who will be able to help their peers develop within their communities. This is part of Standard Chartered China's promise to pair economic development with community investment in every new city within their network.
Speaking at the Xi'an branch opening ceremony, Jaspal Bindra, Group Executive Director and Asia CEO, Standard Chartered Bank said "China is a strategically important market for Standard Chartered. We have operated in the county for more than 150 years. The opening of our Xi'an branch is a key step for our expansion in Western China and deepens our commitment to customers and clients as well as the community. We'll continue to invest to further cities in China and have sustainable contribution to China's economy and society development."
Lim Cheng Teck, Executive Vice Chairman and CEO of Standard Chartered China, said "as a historical and cultural city, Xi'an has great potential in economic development. As one of the key transportation centers in North-west China, it also plays an important role in the Grand Western Development Program and Twelve Five Plan. We are very pleased to open a branch in Xi'an, and to contribute to the economic revival in Western China. With high quality financial products and solutions, we are well-placed to serve the needs of our clients and customers, and we will also continue to support enterprises in Western China venturing aboard through our wide international network."
For corporate clients, Standard Chartered China Xi'an Branch offers effective, market-leading and differentiated financial services covering cash management services, trade and supply chain financing solutions, funding solutions and global market products. Additionally, Standard Chartered China has a special team dedicated to supporting small and medium enterprises with trade finance and cash management products, as well as providing credit facilities. For individuals, the new branch currently provides numerous innovative and competitive RMB and foreign currency banking products.
As a window opens up in Western China, Xi'an Hi-Tech Developing Zone has developed an important foundation for the high-tech industry development nationwide. For enterprises looking to going abroad, Standard Chartered Bank can not only provide conventional financial services covering loan, cash management and trade and supply chain financing, but can also tailor-make high value added strategic solutions ranging from enterprise financing, asset and liability management, and capital market to foreign currency hedging.