Recently, China Banking Regulatory Commission (CBRC) approved of the preparation of Hong Kong Branch by Industrial Bank (IB). It will be the 39 th first-level branch of the bank and the first branch established by IB outside the Chinese Mainland. Up to now, the bank has a total of 692 business outlets, further improving its nationwide service network.
The establishment of IB Hong Kong Branch will help the bank to improve its capability in providing cross-border financial services and better serve the economic cooperation between the mainland and Hong Kong. It will also facilitate the bank to study the advanced operation and management experience and market operation experience of the finance industry in Hong Kong, introduce high-end managerial and technical talents from the international market, and participate in the financial exchange and cooperation between the mainland and Hong Kong.
After establishing Hong Kong Branch, the bank will adhere to the general strategy of “reasonable positioning, steady operation and scientific development by bringing into play advantages” and rely on the business and customer bases in the mainland market. It will mainly target at the economic and trading exchanges, enterprises funded by the Chinese Mainland in Hong Kong and high-end retail customers in Hong Kong from the mainland, and focus on such commercial banking businesses as deposit and loan, trade financing, and international settlement, so as to develop the finance market businesses gradually and explore the development of investment banking businesses.