On the afternoon of October 26, a new Luso International Banking branch officially opened in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Zhuhai, becoming the first Macao-funded bank to commence business since the zone came into operation.
(Photo provided to Newsgd.com)
Founded in 1974 as a subsidiary of Xiamen International Bank, Luso International Bank has played a vital role in Macao's financial system, and should be given due credit for its part in Macao's prosperity. On October 18, its headquarter and Guangzhou branch were included in the wealth management connect pilot scheme, according to an announcement of the People's Bank of China, and the cross-boundary banking services were at available in Hengqin the next day.
The opening of the new branch in Guangdong-Macao In-Depth Cooperation Zone in Hengqin is offering a prospect of deeper cross-boundary connection and a full range of services for all. Meanwhile, the cooperation zone, with its favourable location, enormous economic potential, and policy support from the governments, now promises to be of strategic importance to the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in the foreseeable future.
Wang Xiaojian, chairman of Xiamen International Bank, spoke highly of the opening of the new bank branch, and called it "a forceful action that furthers 'One Country, Two Systems' policy". Xiamen International Bank is going to integrate resources within and without the corporation to advantage, and play an active part in the development of the cooperation zone and the GBA.
The opening of this bank branch is expected to breathe new life into the region’s economy, and gather considerable momentum with expanding cross-boundary business operations, flexible loans, and a refined transaction system.
Author: Ray (intern)
Editor: Will, Jerry