ANZ China supporting development of Shanghai FTZ

The Australia and New Zealand Bank (China) Co Ltd plans to open a sub-branch in the Shanghai free-trade zone.

The zone, in Waigaoqiao, is one of four areas in a pilot project set up by China's State Council in July 2013 as a testing ground for economic reforms.

ANZ China is a wholly-owned subsidiary of Australia and New Zealand Banking Group, a top four Australian bank.