ANZ plans 'significant' investment in China

BEIJING - The Australia and New Zealand Banking Group Ltd (ANZ), the third-largest bank by market value in Australia, will continue to make "significant" investments in China, even as the world economic recovery remains fragile, a senior bank executive said on Wednesday.

The Australian lender has seen an 80 percent increase in revenue from its operations in China since it launched a wholly owned, locally incorporated subsidiary in 2010.

The rural bank it opened in Chongqing in 2009 also moved into the black as of the second half of this year, according to Gilles Plante, ANZ China chairman and ANZ CEO North East Asia, Europe and America.