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Branch of State Commercial Bank Goes into Operation
The Guangzhou branch of the Fujian Industrial Bank went into operation Thursday in the capital of south China's Guangdong Province.
The Fujian Industrial Bank is based in Fuzhou, capital of neighboring Fujian Province and is one of China's major state-controlled share-holding commercial banks.
Set up in 1988, the Bank had 49.18 billion yuan in total assets and a combined 3.9 billion yuan in profits by 1999.
At the end of last year, savings in the bank stood at 32.14 billion yuan.
The bank has so far opened 15 branches at home and has also established agencies with more than 200 Chinese and foreign financial institutions.
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