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BNP Paribas opens second branch in FTZ
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French bank BNP Paribas has opened its second branch in Shanghai’s pilot free trade zone to further expand its presence in China’s frontier of reform and opening up.
Located in Waigaoqiao area, the bank’s second branch in the zone will provide a wide range of banking products and services to clients.
Its business and operational activities, risk management, compliance, legal, and operational controls will be centralized at head office level in BNP Paribas (China).
“With the opening of the new branch in the zone, BNP Paribas will be in a better position to help its clients seize the opportunities arising from interest rate liberalization, yuan internationalization and other offshore business,” said Peter Kwok, acting chief executive officer of BNP Paribas (China) Ltd.
BNP Paribas was among the first financial companies to establish a presence in the FTZ when it opened BNP Paribas Commodities Trading (Shanghai) last year.
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