Canada the next target for one of China’s big four
(26 June 2012 – China) State-owned Agricultural Bank of China (ABC), one of China’s Big Four banks, will open its first Canadian branch in Vancouver as part of a campaign to increase trade between China and North America.
The Vancouver office will be its fifth overseas office, the bank announced last week it would be opening a branch in New York this summer – the banks first in the United States.
'This speaks to the way Vancouver is creeping up the ladder in terms of international recognition,' said Ken Peacock, vice-president and chief economist at the Business Council of British Columbia.
He said the bank's arrival in Vancouver contributes to making Vancouver a more robust business centre to deal with Asia.
ABC is China's fourth largest bank with more than 23,000 domestic branches. It has overseas branches in Hong Kong, Singapore and Seoul and four overseas offices in Sydney, Tokyo, Frankfurt and New York.
'This speaks to the way Vancouver is creeping up the ladder in terms of international recognition,' said Ken Peacock, vice-president and chief economist at the Business Council of British Columbia.
He said the bank's arrival in Vancouver contributes to making Vancouver a more robust business centre to deal with Asia.
ABC is China's fourth largest bank with more than 23,000 domestic branches. It has overseas branches in Hong Kong, Singapore and Seoul and four overseas offices in Sydney, Tokyo, Frankfurt and New York.
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