Vietnam's fast economic growth, surging trade attract China Construction Bank: bank chairman

08:53, April 19, 2010      

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Vietnam's fast economic growth and its increasing trade and investment exchanges with China bring China Construction Bank (CCB) to this market, said bank's chairman here on Friday.

CCB is committed to providing high-quality and efficient financial service to support China-Vietnam economic cooperation, said Guo Shuqing, CCB's chairman in an exclusive interview with Xinhua.

CCB, China's second largest lender, opened its first branch in Vietnam in the country's southern economic and financial hub Ho Chi Ming City here on Friday.

Guo said Vietnam boast high potential in development and it impressed the world with high growth and financial stability last year despite the global financial crisis and economic downturn.

Vietnam registered 5.32 percent economic growth last year, highest in Southeast Asia, statistics showed.

Guo said economic exchanges between Vietnam and China are developing fast, demanding more financial service.

Last year, Vietnam's export to and import from China both went up despite global trade contraction. Two-way trade exceeded 20 billion U.S. dollars, according to Chinese statistics.

Guo said CBC is a leading Chinese bank with advantage in retail banking, wholesale banking and investment bank business. CCB has developed business relations with 23 Vietnamese banks, which laid a solid foundation for the bank's future expansion in the Vietnamese market, said Guo.

The establishment of Ho Chi Minh City branch is an important step in CCB's overseas expansion, and CCB is confident in the potential of Vietnamese market, said Guo.

The Ho Chi Minh City branch is CCB's second branch in Southeast Asia after the one in Singapore. Guo said CCB will work hard to expand market share in Vietnam and meanwhile, try to provide service to businesses in other Southeast Asian countries.

The Ho Chi Minh City branch takes deposits, lends loans, provides project financing and trade financing, offers international settlement service and deals with other businesses, according to CCB.

"We are committed to provide first-class service to Vietnamese and Chinese customers and contribute to the trade and financial cooperation between the two countries," said Guo.



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