Chong Hing Bank takes a key step in the nationwide layout, the grand opening of Shanghai branch
Release Date:2019-11-29 16:43:32

On November 26, 2019, Chong Hing Bank opened its first domestic branch in the Yangtze River Delta, Shanghai Branch, marking the key progress of the national layout strategy when Chong Hing Bank has joined Yuexiu Group for nearly six years.

The main guests of the opening ceremony: Zhang Zhaoxing, Chairman of Yuexiu Group, Chairman of the Board of Directors of Chong Hing Bank; Zong Jianxin, Vice Chairman and Chief Executive of Chong Hing Bank; Tang Guolin, President of Shanghai Branch of Chong Hing Bank; Zhou Hanmin, member of the Standing Committee of the Chinese People's Political Consultative Conference (CPPCC), Vice Chairman of the Central Committee of China Democratic National Construction Association, Vice Chairman of CPPCC Shanghai Committee; Wang Xiaojun, Vice Chairman of CPPCC Pudong New District of Shanghai Committee; Zhuang Wei, Deputy Director of Financial Services Department of Shanghai Headquarters of the People's Bank of China; Zhang Yuxiang, Director of Lujiazui Administration Bureau of Shanghai Free Trade Zone; Chen Haodian, Director of State Owned Assets Supervision and Administration Commission of Guangzhou Municipal People's government; Peng Wenhao, Deputy Director of Shanghai Market Supervision and Administration Bureau; Zhao Hai, Secretary General of Shanghai Banking Association. More than 200 guests, including leaders from Shanghai municipal government and regulatory authorities, Yuexiu Group and other strategic shareholders, directors of Chong Hing bank, guests from financial industry, major enterprises and media friends, attended the ceremony to witness the opening of Chong Hing Bank in Shanghai, a modern international metropolis and international financial center

Chen Haodian, Director of Guangzhou State Owned Assets Supervision and Administration Commission (SASAC) extended warm congratulations on the opening of Chong Hing Bank Shanghai Branch. He pointed out that since joining Yuexiu Group, standing based on Guangdong, Hong Kong, and Macau Greater Bay Area, Chong Hing Bank has made full use of its cross-border advantages, realized the national layout of business outlets, rapidly expanded its business, significantly improved performance, and quickly became one of the main forces of Guangzhou's state-owned financial institute. Director Chen Haodian said that Shanghai is the forefront of China's financial opening-up, one of the cities with the most complete financial factor markets in the world, a strategic location for Chong Hing Bank to expand the mainland market and a first choice for its business growth in the country, and an inevitable choice for Chong Hing Bank to actively integrate into the overall situation of national development and realize international development. Guangzhou SASAC will continue to vigorously support the development of Yuexiu Group and Chong Hing bank, and hope that Chong Hing Bank Shanghai Branch will continue to provide convenient, fast and comprehensive high-quality financial services for domestic and foreign enterprises, and constantly improve brand influence and competitiveness. At the same time, it will earnestly learn and absorb the experience and practices from leading Shanghai financial institutions, so as to become a "going out" financial institution model of Guangzhou state-owned assets and even Greater Bay Area, and contributes to the financial cooperation between Shanghai, Hong Kong and Guangdong.

Zhang Zhaoxing, Chairman of Yuexiu group and Chairman of the Board of Directors of Chong Hing Bank, said in his speech that Yuexiu Group, as a large state-owned enterprise in Guangzhou, has formed a "4 + X" modern industrial system with finance, real estate, transport infrastructure and urban agriculture as the core industries after more than 30 years of reform and development. At present, the group's total assets are reaching RMB 650 billion. The financial sector is the core sector of Yuexiu Group in recent years, at present, the total assets of the sector have exceeded RMB 290 billion. The business outlets are distributed in nearly 30 provinces, more than 70 major cities and Hong Kong and Macao region, basically forming a comprehensive financial development pattern of "cross-border operation and national expansion". Among them, since Chong Hing Bank joined Yuexiu group, it has adjusted the mainland market to the strategic focus of its future development. As the first operational institute of Chong Hing Bank in the Yangtze River Delta, Chong Hing Bank Shanghai Branch is a new milestone in further exploring mainland business. It will adhere to the tradition of steady operation, devote itself to providing distinctive and differentiated cross-border financial products, firmly serve the economic development of regional entities, and make new and greater contributions to the integrated development of the Yangtze River Delta and the construction of Guangdong, Hong Kong and Macao Greater Bay Area. At the same time, Chong Hing Bank will further increase the pace of mainland development, vigorously promote the establishment of mainland corporate banks in Guangzhou, so as to better integrate into the overall situation of national development and help the transformation and upgrading of domestic economy.

Zong Jianxin, Vice Chairman and Chief Executive of Chong Hing Bank, said that Shanghai has played a leading role in promoting the integrated development of the Yangtze River Delta. It has always been a pioneer in China's financial reform and opening up, and has also brought unlimited opportunities for domestic and foreign enterprises. As the first mainland branch of the bank located in the Yangtze River Delta, Chong Hing Bank Shanghai Branch demonstrates the determination of the bank to further actively expand the mainland market, and provides important support for the realization of the nationwide layout of Chong Hing Bank, which is conducive to accelerating progress towards the strategic goal of establishing a domestic corporate bank. Chong Hing Bank will seize the historic opportunity of national reform and opening up, continuously optimize the cross-border financial service system, improve the ability to serve the real economy, help enterprises to better operate and develop, and realize the growth with customers.

Chong Hing Bank has a long history of more than 70 years, and became a member of Yuexiu Group in 2014. Shanghai Branch is the fourth branch established in the mainland, and the other three branches are located in Guangzhou, Shenzhen and Shantou respectively. Shanghai branch is located at Yuexiu Building of Pudong Zhuyuan CBD. It is the first service outlet of Chong Hing Bank in Yangtze River Delta, forming a new development pattern covering Pearl River Delta and Yangtze River Delta with "4 branches + 4 sub-branches". As the country's largest economic center city, Shanghai is stepping into the sprint stage of building an international financial center, and the financial market system is further improved. Relying on Shanghai's open financial system and excellent business environment, Shanghai Branch will become the bridgehead for Chong Hing Bank to connect Shanghai and Hong Kong business. By virtue of cross-border business advantages, resource coordination of Yuexiu Group, a major shareholder, and the head office in Hong Kong, focusing on serving enterprises and individual customers in Shanghai, and focusing on high-quality and efficient comprehensive cross-border financial services, Chong Hing Bank Shanghai Branch will strive to become a competitive cross-border bank in Shanghai.

Chong Hing Bank

Chong Hing Bank was established in Hong Kong in 1948 and listed on the Stock Exchange of Hong Kong in 1994 (Stock Code: 01111). Chong Hing Bank and its subsidiaries (Chong Hing Securities Co., Ltd. and Chong Hing Insurance Co., Ltd.) provide comprehensive commercial banking and financial services for individual and enterprise customers, including Hong Kong dollar and foreign currencies' deposit, credit, foreign exchange transactions, wealth management, investment, securities, insurance and other products and services. In addition, Chong Hing Bank established BCT UnionPay Group with a number of local financial institutions to provide customers with all-rounded MPF services. At present, Chong Hing Bank has more than 30 branches in Hong Kong, branches in Guangzhou, Shenzhen, Shanghai, Shantou and Macao, sub-branches in Tianhe District, Guangzhou, Foshan City, Nansha District, Guangdong pilot Free Trade Zone, Hengqin District, Guangdong pilot Free Trade Zone, and a representative office in San Francisco, USA. Before the opening of Shanghai Branch, Chong Hing Bank had a representative office in Shanghai, which was established in 1988. It is one of the foreign banks that entered Shanghai earlier since the reform and opening-up, and also the first organization of Chong Hing Bank in the mainland.

Chong Hing Bank became a member of Yuexiu Group on February 14, 2014. Yuexiu Group was founded in Hong Kong in 1985. At present, Yuexiu Group's total assets are reaching RMB 650 billion. In 2019, Yuexiu Group was listed as "Top 500 Chinese enterprises", ranking 382.