ANZ has announced the opening of its fifth outlet in China – in Beijing’s ‘Silicon Valley’.

The latest sub-branch was officially opened by ANZ Chief Executive Officer North East Asia, Europe and America, Gilles Planté, in Zhongguancun, a high-tech
business district in Beijing and is part of the bank’s strategy to provide more convenient banking to its mainland customers.

ANZ’s new sub-branch in Beijing will provide individual customers and small and medium businesses with easy access to banking services in one of the highest growth areas of Beijing, said Mr Planté.

The sub-branch will also provide a full range of local and foreign currency services to small and medium enterprises and individual foreigners, and assist local residents with foreign currency personal banking needs and local currency deposits of CNY1 million and above.

The sub-branch will offer affluent individual customers an ‘ANZ Signature Priority Banking’ option to have dedicated relationship managers and receive highly personalised services.

Beijing, with its population of more than 20 million, has the largest number of wealthy people in China, according to the 2009 Hurun report.

Beijing is one of the main sources of Chinese migrants and overseas students to Australia and New Zealand.

Zhongguancun, is located in the Northwest of Beijing and is regarded as China’s ‘Silicon Valley.’ It is home to more than 300 academic research institutions and universities as well as more than 20,000 high-tech companies.

ANZ has four other outlets in China in Shanghai, Beijing and Guangzhou.

ANZ is currently seeking local incorporation to offer customers a larger distribution network and a wider range of RMB products and services.

ANZ also has a strategic partnerships in two of China’s key growth regions – a 19.9 percent stake in the Shanghai Rural Commercial Bank and a 20 percent stake in the Bank of Tianjin.

ANZ also operates a 100 percent ANZ-owned rural bank in LiangPing county, the ChongQing LiangPing ANZ Rural Bank Co Ltd. ■