CITIC subsidiary to provide banking services in Xiongan New Area
China CITIC Bank Corp Ltd, the banking unit of conglomerate CITIC Group Corp, said on Saturday that it plans to provide banking services in the Xiongan New Area.
The move came after top four State-owned commercial banks in China - the Bank of China, the Industrial and Commercial Bank of China, the Construction Bank of China and the Agricultural Bank of China - won official approval to set up branches in the area.
"CITIC has been eyeing opportunities in the Xiongan area to get involved in the construction of the zone, which is of great significance to the country," said Li Qingping, chairman of China CITIC Bank. "CITIC Bank will provide smart banking services in the area, with more efforts in the high-tech sector, such as big data, cloud computing and artificial intelligence, to help in the financial development of a smart Xiongan."
