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China Merchants Bank 'crosses the equator' and arrives in Sydney

By Tingting Yan (People's Daily Online)    16:56, September 21, 2017

(People's Daily Online/Wang Quanjiao)

On September 19, 2017, the grand opening ceremony of China Merchants Bank (CMB) Sydney branch highlighted its international footprints. As this year marks the 45th anniversary of diplomatic relations between Australia and China, the event was fitting.

"Today at last we have crossed the equator and landed in Australia, the thriving Great Southern Land," said Tian Huiyu, CMB's Chief Executive Officer.

CMB was founded in 1987 in Shenzhen. Now, 30 years later, CMB operates in over 130 cities with over 1,900 branches across China. International services include commercial banking, finance leasing, funds management, life insurance, and investment banking.

Honored guests included Mr. Tian Huiyu, CMB's President and Chief Executive Officer, H.E. Cheng Jingye, Ambassador of the People's Republic of China to Australia, Professor Bob Carr, Director of the Australia-China Relations Institute and former Foreign Minister of Australia, Jonathan O'Dea, official representation of the Premier of NSW, and Michael Sukkar MP, Assistant Minister to the Treasurer of Australia. 

"Due to Australia's highly complementary industrial structures and resource endowments, the potential for bilateral collaboration is immense," said Mr. Tian.

"Mr. Chairman, Mr. President Tian, we welcome you here. This is a symbol of the strong economic links between us. Chinese are very fond of saying a win-win. This is a win-win. It's a win for Australia, and a win for China," Mr. Carr said.

As CMB has become a benchmark for customer service and innovation, the opening of the Sydney branch is an important milestone in CMB's global strategy.

The target for the Sydney branch is sustainable long-term business. Sound operations, compliance, and professional customer services will be the top priority. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Du Mingming, Bianji)

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