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Foreign banks ready for retail

By Yu Lu (China Daily)
Updated: 2007-01-20 11:12

"We are also developing new products and expanding outlets as part of the preparation efforts," she said.

A few days ago, the Bank of East Asia launched its first renminbi investment product, which was seldom offered previously by overseas banks due to limited subscription volume.

"The launch of this product will widen the bank's product portfolio, as well as to pave the way for future renminbi business," the bank said. "Its strategic importance is more than simple sales results."

In addition to direct marketing measures, foreign banks are spending more on brand image promotion.

Stephen Green, chairman of HSBC Holdings Plc, announced in Beijing that the bank has received approval for its branch in Shenyang, Northeast China’s Liaoning Province. He also unveiled HSBC’s branding effort on the airbridges in Beijing Capital International Airport. [China Daily]

HSBC launched a branding program this week in the Beijing Capital International Airport.

Under the program, the HSBC brand will be carried on the exterior of 47 airbridges at the airport, making it obvious to travelers.

The bank uses the medium of airbridges to support its branding in many countries and cities around the world.