On April 24th, Standard Chartered Bank (China) Limited held an opening ceremony for its branch in Hefei, marking the official entry of another Fortune Global 500 company into Anhui province.

Previously, the National Financial Regulatory Administration approved Standard Chartered China's application to establish a branch in Hefei on June 13, 2023. On January 25, 2024, Standard Chartered Bank Hefei Branch obtained its financial license.

This is the first provincial-level branch opened by Standard Chartered Group in China in nearly 9 years. The responsible person from Standard Chartered China stated that Anhui possesses leading regional innovation capabilities, particularly in the fields of new energy vehicles, artificial intelligence, and high-end manufacturing, which are rapidly developing and leading the rapid aggregation of upstream and downstream industrial chains. Standard Chartered's global market network layout, as well as its professional advantages in cross-border RMB services and sustainable financial services, will effectively support the development of local companies in Anhui's global supply chain and enhance their international competitiveness.

It is understood that leveraging the global network advantages of Standard Chartered Group, Standard Chartered Bank Hefei Branch will provide financial services in areas such as corporate financing, settlement and clearing, financial markets, and transaction banking to domestic and foreign companies operating in Anhui. It aims to support the local operation and international development of enterprises, achieving seamless integration between the domestic and international markets.

In recent years, Anhui's open economy has developed rapidly, and foreign institutions have expressed their trust by investing in Anhui. In 2023, the number of newly established foreign-funded enterprises in the province reached 602, a year-on-year growth of 26.7%. Currently, there are over 5,000 foreign-invested enterprises in Anhui province.

Source: anhuinews.com