New Office
ANZ Steps Up China Business With New HQ
ANZ is ramping up its business in China with the
opening of its new main branch and head office in Shanghai.
The new office, located in the Mirae Asset Tower in the Lujiazui
Financial and Trade Zone, forms part of ANZ's growth
strategy for the Greater China area. The bank said it is on track
to boost its branch numbers from 6 to 20 outlets.
The launch comes shortly after the China Banking and
Regulatory Commission approved ANZ's application to set up a
locally incorporated banking subsidiary in the country in April
this year.
"With the importance of China to the future of the world economy,
building a business which supports the economic connectivity
between China, Hong Kong and Taiwan is a core part of ANZ's
objective to become a super regional bank,"
Mike Smith, the chief executive officer, said in a
statement.
"We are making good progress with the regulatory and other
preparatory work required for local incorporation and we hope to
have this completed by the end of 2010."