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China's Major Commercial Banks Sets up Branches in Hangzhou
With the Everbright Bank of hina setting up November 28 a branch in this capital of Zhejiang Province, east China, all the 13 major commercial of the country have opened their business in Hangzhou.
At the opening ceremony, Tan Ping, head of the Everbright branch said that by the end of October, Everbright's outstanding deposits in Hangzhou had amounted to some 2.5 billion yuan (about US$302 million) and its outstanding foreign currency deposits had reached US$27.9 million.
Hangzhou, located in the southeastern China coast, has witnessed rapid economic development, and the income of the local people is fairly high compared with other parts of the country. Thus it is attractive to commercial banks.
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