Standard Chartered opens branch in East China city

HEFEI -- Standard Chartered on Wednesday opened a branch in Hefei, capital of Anhui province in East China, as the British banking giant beefs up its presence in China.

Standard Chartered now has a presence in all four provincial-level regions in the Yangtze River Delta, namely Shanghai, Zhejiang, Jiangsu, and Anhui.

"This new branch serves as a powerful testament to Standard Chartered's unwavering commitment to China, a market we've proudly served for nearly 170 years," said Bill Winters, group chief executive of Standard Chartered PLC.

"We are optimistic about China's long-term economic prospects as demonstrated by the incredible depth, breadth and resilience of Chinese economy. We believe China will continue its role as a major growth engine for the global economy in the years ahead," he said.

The Hefei branch provides services including corporate financing, settlement and clearing, financial markets, and transaction banking. It is committed to providing high-quality financial services to Chinese and foreign enterprises operating in Anhui to support their local operations and international development.

With rapid development in such frontier fields as semiconductors, new energy vehicles, artificial intelligence, and high-end manufacturing, Anhui is one of China's leading regions in accelerating the cultivation and growth of new quality productive forces, said Jerry Zhang, executive vice-chairman and CEO of Standard Chartered Bank (China) Ltd.

The bank will fully support local enterprises in Anhui to develop global supply chains and enhance international competitiveness and will also support foreign enterprises to deeply expand the local market in Anhui, Zhang said.

Standard Chartered now has outlets across nearly 30 coastal and inland cities in China.