The establishment of a branch in Singapore is a new step in the internationalization of China Merchants Bank's business network and an important measure for the bank to comprehensively enhance its service capabilities, improve its cross-border financial service levels, and gradually achieve globalized services. Mr. Tian Huiyu, President of China Merchants Bank, and Mr. Duan Jielong, Chinese Ambassador to Singapore, delivered speeches respectively and unveiled the plaque for the China Merchants Bank Singapore Branch. Approximately 100 representatives from Chinese-funded enterprises in Singapore, local businesses, financial industry peers, and media attended the ceremony.
It is understood that in the short three months of its trial operation, the China Merchants Bank Singapore Branch has opened 26 various accounts, with total assets reaching nearly 900 million USD. It has demonstrated a strong momentum of development in all aspects, including traditional bilateral USD loans, trade financing, and offshore RMB loan businesses.
