Bank of China promotes services for high-level opening-up

Bank of China is promoting its services for high-level opening-up, according to a seminar held in Tokyo on Tuesday for Chinese enterprises in Japan.

Ge Haijiao, chairman of Bank of China, a large State-owned commercial lender, emphasized that overseas institutions should actively take on the role of vanguard in serving the new development paradigm of “dual circulation”, which allows the domestic and overseas markets to reinforce each other, with the domestic market as the mainstay.

Overseas institutions should continuously improve market competitiveness, play to their strengths, seize opportunities, and achieve high-quality development in serving the national strategy of high-level opening-up, Ge said.

Bank of China has been deeply involved in the Japanese market for more than 40 years, acting as a financial bridge and working in tandem with local Chinese businesses. It has grown into the largest Chinese bank in Japan in terms of local customer base, coverage, and range of services.

The chairman said the bank will focus on promoting the internationalization of the renminbi, facilitating cross-border investment and financing, promoting financial market connectivity, and enhancing risk management capabilities.

It will also adjust and upgrade financial services continuously, promote bilateral economic and trade cooperation, and make greater contributions to advancing high-level opening-up and building a nation with a strong financial sector, Ge said.

Song Yaoming, minister-counsellor for economic and commercial affairs at the Chinese embassy in Japan, Wang Jiaxun, president of the China Enterprises Association in Japan, Shi Ming, chief representative of the China Council for the Promotion of International Trade Representative Office in Japan, as well as representatives from Chinese enterprises in Japan such as Air China, COSCO Shipping, and Huawei, attended the seminar.

The attendees thanked Bank of China for its long-term financial support to Chinese enterprises going global. They said they hope to continuously expand the breadth and depth of cooperation with the bank, making greater contributions to promoting bilateral economic and trade exchanges and deepening Sino-Japanese relations.