China Construction Bank Opens First Branch in US


China Construction Bank Corporation (CCB), the world’s second largest bank by market value, opened its New York branch on Friday.

The New York branch, CCB’s first branch in the United States, extends CCB’s global presence and marks a significant milestone in CCB’s global strategy, said CCB’s Chairman Guo Shuqing to Xinhua after the opening ceremony.

[…]The New York branch will engage in wholesale banking activities, including lending, acceptance of wholesale deposits, trade finance, U.S. dollar clearing and treasury, according to the CCB.

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