BNP Paribas China Opens New Branch In Shanghai Free Trade Zone
BNP Paribas was among the first financial companies to establish a presence in the FTZ when it opened BNP Paribas Commodities Trading (Shanghai) last year. The new branch of BNP Paribas (China) Ltd. will further enrich its offering to clients through a wide range of banking products and services.
Peter Kwok, Acting CEO of BNP Paribas (China) Ltd., said: “BNP Paribas has a long history in China, where it opened the first office here in Shanghai in 1860. As such, we are delighted and privileged to be deeply involved in the pilot project of FTZ to contribute to China’s future economic development, in particular its ‘Go Global’ strategy.
“With the opening of the new branch in the FTZ, BNP Paribas will be in a better position to help its clients seize the opportunities arising from the interest rate liberalization, renminbi internationalization and other offshore business.”
BNP Paribas Shanghai FTZ branch is located in the International Communication & Trade Building in Waigaoqiao. Its business and operational activities, risk management, compliance, legal, and operational controls will continue to be centralised at head office level in BNP Paribas (China) Ltd.