MUNICH About 200 invited guests from business, politics and society accepted the invitation by the fourth largest Chinese bank to attend the opening of their fifth branch in Germany at Lenbachplatz in Munich – in addition to Frankfurt, Düsseldorf, Hamburg and Berlin. The bank is intent on developing the southern Germany market from its branch in Munich.
The festive opening ceremony, in which Mr. TIAN Guoli, Chairman of the Board of Directors of the Bank of China, will also participate, will take place at Nymphenburg Palace – a site well chosen, considering that the palace was built by the Wittelsbach family, who already engaged in trade with China in the 18th century.
The choice of Munich as a location is perfect: Munich is a leader in the finance sector and one of the most important financial centres in Europe.
The decision to open a branch now could not have come at a better time: The trade volume between both countries has been increasing steadily over the past years and has reached a new record in 2014 with EUR 28.5 billion. This makes China the third largest trading partner for Bavaria in the world and its most important in Asia. Over 2,000 Bavarian companies already have business relations with China. In turn, almost 250 Chinese companies have their branches in Bavaria. And all of these companies represent existing or potential customers of the Bank of China.
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