REGIONAL> Development
Fujian eager to attract foreign investment banks
By Hu Meidong and Liu Xintian (China Daily Fujian Bureau)
Updated: 2009-08-06 19:03

Fujian Banking Regulatory Commission (BRC) said on August 4 it plans to establish more branches of large-scale foreign investment banks in Fujian.

With the new "Proposal for Favoring Fujian to Speed up its Economic Zone of West Taiwan Strait" recently released by the State Council, Fujian BRC is encouraging Taiwanese banks such as the Bank of East Asia, Xing Zhan Bank Fuzhou to establish branches in Fujian.

Fujian BRC has an ambitious plan to build what it calls a "big west strait financial service network" by attracting more foreign commercial banks to establish regional head offices in the province and support qualified banks in expanding by opening more branches.

Fujian also plans to improve rural financial services by establishing banks in villages and small towns such as Zhangping, Fuding, Lianjiang and Anxi.