BOC launches branch in Chicago
Updated: 2013-03-23 11:06
(Xinhua)
|
|||||||||
CHICAGO - The Bank of China (BOC) opened a new branch to business in downtown Chicago on Friday, the fourth in the United States.
The BOC Chicago branch will offer such services as working capital loans, supply chain financing, trade financing, trade settlement, commercial property mortgage, cash control, foreign exchange, and forex derivatives to enterprises in 17 US states around Illinois.
By opening the branch, BOC has aimed at the big commodity market in the region, BOC Vice President Yue Yi said at the opening ceremony. He did not rule out the possibility of engaging in cross-border RMB business in the future.
BOC entered the United States in 1981 and has so far opened three branches. With the Chicago branch, BOC has extended its business to the Midwest, thus building up a business network covering both US East and West markets.
The establishment of the branch was approved by the US Office of the Comptroller of the Currency (OCC) in May 2012, and obtained the business license on Dec 27, 2012.
Yue said BOC's operation strategy is to serve Chinese enterprises going abroad as well as multinational companies investing in China.
BOC has so far opened branches in 36 countries and regions, and established agency cooperation relationship with more than 1,600 foreign banks in 180 countries and regions.
- Li Na on Time cover, makes influential 100 list
- FBI releases photos of 2 Boston bombings suspects
- World's wackiest hairstyles
- Sandstorms strike Northwest China
- Never-seen photos of Madonna on display
- H7N9 outbreak linked to waterfowl migration
- Dozens feared dead in Texas plant blast
- Venezuelan court rules out manual votes counting
Most Viewed
Editor's Picks
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
TCM - Keeping healthy in Chinese way |
Poultry industry under pressure |
Today's Top News
Boston bombing suspect reported cornered on boat
7.0-magnitude quake hits Sichuan
Cross-talk artist helps to spread the word
'Green' awareness levels drop in Beijing
Palace Museum spruces up
First couple on Time's list of most influential
H7N9 flu transmission studied
Trading channels 'need to broaden'
US Weekly
Beyond Yao
|
Money power |