Bank of China opens first local branch in Brunei

Updated 2016-12-20 17:41:43 Xinhua

Bank of China (BOC) (Hong Kong) opened its first branch in Brunei on Tuesday, marking a further important link between the Chinese and Bruneian economies.

With a history of over 100 years, the BOC is one of the most influential financial institutions in the world, with branches or representative offices located in 49 countries and regions globally after the opening of the Brunei branch.

At the opening ceremony of the branch in the sultanate's Empire Hotel and Country Club, Bruneian Minister of Home Affairs Haji Awang Abu Bakar said the start of the first Chinese financial institution in Brunei will "help Brunei to satisfy its demand for achieving Vision 2035, especially in serving Foreign Direct Investments, developing Small and Medium Enterprises and to promote bilateral economic and trade relations between Brunei and China."

Over the past decades, Chinese companies have come to invest in Brunei, boosting cooperation between the two nations. China is also one of Brunei's largest trading partners.

"The coming to Brunei of Bank of China marks a new stage of cooperation between China and Brunei," Chinese Ambassador to Brunei Yang Jian said in her speech.

"It is my firm belief that the Brunei Branch of Bank of China (Hong Kong) will provide high quality financial services to Bruneian enterprises as well as China's enterprises, serve the local society, and help further promote the economic and trade cooperation between China and Brunei," she added.

Xu Luode, executive vice president of BOC, also said at the ceremony that the opening of BOC Brunei branch is in compliance with the trend of deepening cooperation between China and Brunei, which will significantly promote bilateral economic, trade and financial cooperation.

Foreign direct investments have played a very important role in the Brunei's economy, bringing job opportunities and dynamism to the sultanate.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58April 24 2018 12:37:24

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16April 24 2018 12:37:24

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18April 24 2018 12:37:24

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords