Taiwan bank opens first overseas company in H.K.HONG KONG Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Oct. 27 KyodoTaiwan's Bank of Overseas Chinese A list of famous people with Chinese ancestry living outside of the Republic of China and the People's Republic of China. Leaders and politicians Asia
The bank's president and managing director, Chang Ching-tang, said that as more Taiwanese business people are setting up offices in Hong Kong and conducting business in Asia, it is necessary for his bank to expand its overseas financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . "As various countries in the region are gradually recovering from the financial crisis, it is quite a good time for our Overseas Chinese Finance Ltd. to open in Hong Kong now," Chang told a press conference. The Bank of Overseas Chinese is the first civilian-run commercial bank and one of the top foreign exchange deposit-taking banks in Taiwan. It currently has total assets of 284 billion N.T. dollars (8.9 billion U.S. dollars). Its Hong Kong subsidiary, Overseas Chinese Finance Ltd., will provide banking services, especially trade finance, for Taiwanese business people and other customers to carry out their activities in the territory, China and other Southeast Asian countries Noun 1. Asian country - any one of the nations occupying the Asian continent Asian nation country, land, state - the territory occupied by a nation; "he returned to the land of his birth"; "he visited several European countries" . Chang said his bank chose Hong Kong because the former British colony, which returned to Chinese rule in 1997, is a regional trade and financial center with mature banking and legal regulations. A number of Taiwanese business people have already established their operation centers or offices in Hong Kong, which in turn provides a good customer base for his bank, he added. The Bank of Overseas Chinese has also invested financial and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. to develop networking and electronic banking facilities over the past two years, hoping to deliver more tailor-made services for its customers, Chang said. Compared to their European and American counterparts, banks in Taiwan lag behind in their overseas expansion due to government regulations, he admitted. Yet the Taiwanese banker is still optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about his bank's development in Asia. "Although we have started late, we have come in time for the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of the Asian financial market. I think we still have quite a lot of business opportunities," Chang said. He said the bank has also applied to set up a representative office in Hong Kong. |
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