The 2020 China International Fair for Trade in Services (CIFTIS), themed around "Global Services, Shared Prosperity", is being held from 4th September until 9th September, 2020 at the China National Convention Center in Beijing. As one of the most important representatives of foreign banks on the Mainland, The Bank of East Asia (China) Limited (“BEA China”) will be a proactive participant throughout the exhibition alongside enterprises from all over the world to support liberalisation of trade and investment, and to facilitate and promote the opening-up, cooperation, prosperity and development of global trade in services.
“BEA China is full of confidence in the prospect of the economic development on the Mainland.” noted Mr. Montgomery Ho Shun-wah, Executive Director & Chief Executive of BEA China, “As a bank originating from Hong Kong, BEA China sees unique advantages in Guangdong-Hong Kong-Macao cooperation as well as cross-border trade and finance. We will take full advantage of BEA Group's extensive overseas network to provide customers with a series of cross-border financial solutions, including overseas accounts and settlement, and overseas financing, to strengthen the linkage between the domestic and overseas markets, supporting Mainland companies investing abroad and overseas companies entering the Mainland market, contributing to the promotion, innovation and development of trade in services.”
As the world's largest offshore Renminbi centre, Hong Kong plays a significant role in cross-border finance. BEA China and its Hong Kong-based parent, The Bank of East Asia, Limited ("BEA"), boast a solid foundation in cross-border finance, and can meet the financing needs of Mainland enterprises to help them enhance strength and competitiveness to develop overseas businesses, especially in the Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”). BEA China has an extensive network that fully covers all the major Mainland cities in the GBA, and will fully leverage its advantages in cross-border finance to provide solutions and services to customers by actively developing businesses such as trade financing. It will also strive towards innovations in consumption financing, payment and wealth management.
Incorporated in Hong Kong in 1918, BEA has operated continuously on the Mainland since the establishment of its first branch in Shanghai in 1920. The bank has witnessed and actively participated in every important moment in the process of the reform and opening-up of the Mainland. In 2007, BEA’s wholly-owned banking subsidiary, BEA China, was officially established, becoming one of the first locally-incorporated foreign banks on the Mainland. In the future, BEA China will continue to seize the new opportunities brought by the further financial opening-up of the Mainland to continuously enhance its core competitiveness and strive to become the best localised foreign bank there.
