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Australian banks advance to Central, Western regions

By He Wei | China Daily | Updated: 2011-08-11 07:47

Australian banks advance to Central, Western regions

SHANGHAI - Australian banks are set to ride the urbanization boom of China's inland cities to offset the overall low-key presence in the world's fastest-growing economy.

During a trade delegation trip to four inland cities, Australia's four major banks - Australia and New Zealand Banking Group Ltd (ANZ), Commonwealth Bank Group, Westpac Banking Corp and National Australia Bank Ltd - expressed their joint commitment to extend their presence in China's central and western regions in the next five years.

With more than 25 years of operations in China, ANZ established a Chinese-language operations hub in Chengdu, the capital city of Southwest China's Sichuan province, in the first half of 2011, and is eyeing expansion to other cities in the region.

Australian banks advance to Central, Western regions

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