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Agricultural Bank of China London Branch officially opened

    On 26th June 2018, the opening ceremony of Agricultural Bank of China London Branch was held in the City of London. More than 200 guests from London’s political, financial and business circles attended the opening ceremony including ZHU Qin, the charge d’affaires of Chinese Embassy to the UK, John Glenn, Economic Secretary to the Treasury and City Minister, Peter Estlin, Alderman of the City of London, Lord Sassoon, Chairman of the China-Britain Business Council and President of the EU-China Business Association, Mark Tucker, Group Chairman of HSBC Holdings plc. and ZHOU Mubing, Chairman of Agricultural Bank of China and GUO Ningning, Executive Vice President of Agricultural Bank of China . 

  

    Chairman ZHOU Mubing expressed in his address, that China and the United Kingdom are both great countries that have maintained a thriving development momentum in various fields over a long period of time. In 2015, Chinese President XI Jinping paid a state visit to the United Kingdom, which started the China-UK "Golden Era". The "Belt and Road Initiative" put forward by China has provided a good platform for all countries in the world to realize common development, co-operation and win-win results. The United Kingdom has always advocated free trade and is an important partner in achieving the “Belt and Road Initiative.”  

  

    Agricultural Bank of China (‘ABC’) established a representative office in London in 1993. In 2012, the representative office was upgraded to a subsidiary and has achieved good business results. The application and approval of ABC London branch has been included twice in lists of China-UK Economic and Financial Dialogue achievements. It is an important progress through which ABC will continue to contribute towards the China-UK golden era. With the opening of London Branch, ABC will have enhanced capacity to provide financial services to customers in both countries whilst serving as a financial bridge between China and UK to deepen the cooperation in areas such as global capital markets, RMB internationalization and cross-border trade & investment. 

  

    In recent years, ABC has actively adapted to economic and social development and market trends through continuously building and enhancing its overseas network and steady implementation of its international development strategy. By the end of 2017, ABC has established 22 overseas institutions and 1 joint venture bank in 17 countries and regions, forming an overseas network covering all major international financial centres and countries and regions with which China has close trade and economic ties. ABC’s comprehensive international business capabilities have steadily increased throughout this time. 

  

    With its continuous development, ABC’s global influence is increasing. In 2017, ABC ranked 6th among the “Top 1000 World Banks” in terms of tier 1 capital and has maintained its position of market leadership.