Swedbank first Swedish bank in Shanghai

Swedbank first Swedish bank in Shanghai Today the formal opening of the Swedbank Shanghai Representative Office was celebrated by a reception at the Garden Hotel in Shanghai. The Chinese central bank, the People's Bank of China, was represented by Mr. Wang Huaqing, Vice President of its Shanghai Branch. In addition representatives of Chinese and foreign commercial banks and Swedish enterprises participated in the event. Earlier in the day the Swedbank delegation had a meeting with the Mayor of Shanghai, Mr. Xu Kuangdi. Mr. Xu welcomed the establishment of the Swedbank Shanghai Office, being the first Swedish and Nordic bank office in this city. Swedbank is one of the oldest and largest banks in Sweden and the Nordic European region. It has the most extensive branch network in the Swedish banking sector, and it is the dominating retail bank in Sweden. It is also a leading provider of financial services to Swedish large corporates as well as to small and medium sized enterprises. In China Swedbank has well-established correspondent relations with a number of banks. The Swedbank Shanghai Representative Office will support the operations of Swedbank in the whole of China, with a particular aim to facilitate and promote the business in this market of the Swedish and Nordic corporate customers of the bank. The location of the representative office of Swedbank to Shanghai is motivated by the fact that many Swedish companies are active in this region. "There are some 150 Swedish companies with manufacturing units and representative offices in Shanghai and the provinces close to this city", explains the Chief Representative of Swedbank, Ms. Liu Zhimei. "We intend to provide financial support to them and to their Chinese partners." For further information please contact: Magnus Francke, Head of Foreign Units, Swedbank +46 8 5859 1210 Einar Frydén, Acting Press Relation Manager, Swedbank Phones: +46 8 5859 1630 or +46 7051 10033 Liu Zhimei, Chief Representative Shanghai, +86 21 5830 2302 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/28/20010528BIT00700/bit0002.doc http://www.bit.se/bitonline/2001/05/28/20010528BIT00700/bit0002.pdf