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Overseas Banks in Shenzhen Report Profits
Overseas banks in Shenzhen City, south China's Guangdong Province, are reported to have made 10.4038 million U.S. dollars in profits in the first nine months of the year.
Shenzhen, one of China's five special economic zones, is among several Chinese cities which are selected to pilot China's financial reform. It is the venue to one of the country's two stock bourses.
Sources from the Shenzhen Central Branch of the People's Bank of China said there are now 27 operational overseas banks and financial organizations in Shenzhen, and another seven representative offices opened by foreign banks in the Southern Chinese city.
By September this year, total assets with overseas banks and financial organizations had amounted to 7.647 billion U.S. dollars, up 51.77 percent from the same period last year.
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