China Construction Bank opens branch in Amsterdam

Chen Xu, Chinese ambassador to The Netherlands, said that by opening a branch in Amsterdam, the CCB has done a right thing with a right partner at a good time and a right place.

It is a good time because China has proposed the development initiative of "One Belt, One Road," which focuses on building the connectivity and cooperation among countries in Asia and Europe, Chen said.

"China's proposal of establishing the Asian Infrastructure Investment Bank (AIIB) has won widespread support. Yesterday (on Monday) in Beijing, representatives from more than 50 countries, including The Netherlands, signed an agreement on AIIB," said the Chinese diplomat.

"Another important area that China and The Netherlands can work in together is production capacity. China is ready to exploit tripartite cooperation with a view to combining the manufacturing advantages of China, the advanced technologies and knowhow of developed countries, including The Netherlands, and the infrastructure needs of developing countries. Such cooperation will be a win-for-all," he added.

The Chinese ambassador said that, with its resources, expertise and pioneering spirits, the CCB Amsterdam branch will play an important role in promoting bilateral relations between China and The Netherlands.

Commissioner of The Netherlands Foreign Investment Agency (NFIA) Jeroen Nijland said that China's investments and The Netherlands share the common character of "being international".

According to NFIA figures, China is the second largest investor in The Netherlands, following the United States and ahead of South Korea and India.

By the end of 2014, after more than a decade of solid investment growth, 500 Chinese companies had set up operations through greenfield projects in The Netherlands, amounting to more than 800 million euros ($890.8 million) in capital and employing more than 8,000 people.

A total of 28 Chinese enterprises have put some 190 million euros ($211.5 million) into greenfield investments last year, creating 500 new jobs in The Netherlands.

"The CCB's opening branch here is not only an illustration of this international economy but also an impulse as well of its development," said Nijland.

"As the Dutch central bank stated in a research report, foreign banks substantially boost foreign direct investment by non-financial firms, notably from the same home country," Nijland added.

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