China Construction Bank opens Taipei branch

TAIPEI -- China Construction Bank (CCB), one of the biggest commercial banks on the Chinese mainland, officially opened its Taipei branch on Thursday.

The branch opening marks the formal start of CCB's business operations in Taiwan. It also makes CCB the third mainland bank to open a branch on the island, after Bank of China and Bank of Communications.

The move is expected to facilitate the bank's efforts to provide cross-Strait financial services and boost mainland-Taiwan economic, cultural and personnel exchanges.

Zhang Jianguo, president of CCB, told a press conference held here for the branch launch that the bank has been active in promoting cross-Strait trade and financial ties and has entered into agent bank relations with 35 Taiwanese banks.

Following the Taipei branch opening, CCB will further increase business cooperation with Taiwan's local financial institutions, aiming to become a bridge linking financial and business circles across the Taiwan Strait, he said.

The Taipei branch will initially focus on corporate financing services, according to CCB.

China Construction Bank currently has 15 branches or subsidiary companies outside of the Chinese mainland.