BNP conversion completed

SHANGHAI: BNP Paribas, France's biggest bank, announced yesterday the completion of its China conversion project that will speed up its growth in the world's fourth largest economy.

Under the project, the Paris-based bank converted its branches in Beijing, Tianjin and Guangzhou into branches of BNP Paribas (China) Ltd, a wholly owned existing subsidiary of the bank, while its Shanghai branch was retained as a foreign currency wholesale branch under the BNP Paribas Group.

With the move, the French lender has gained greater access to banking services targeting clients in China.