According to Hu Huaibang, the Chair of the Board of Directors of the Bank of Communications, its branch in Ho Chi Minh City will provide payment services in Chinese Yuan to facilitate Vietnamese students in China as well as Chinese investors in Vietnam.
Chairman of the municipal People’s Committee Le Hoang Quan said he believed that the bank’s branch in HCM City would create favourable conditions for Chinese businesses to invest in Vietnam in general and in HCM City in particular.
The event will also help bolster cooperation between the twin cities of Ho Chi Minh and Shanghai, he said.
The Bank of Communications is one of the five largest banks in China and is based in Shanghai. It has a network of 2,800 branches and exchange bureaus in China and large financial centres around the world./.
