After receiving an approval from AMBD, BOCHK commenced its operations in Brunei in December 2016, offering comprehensive banking services to individuals and corporations, including corporate banking, personal banking, RMB services, cash management, trade finance and non-bank financial institution and public sector services.
Following Chinese investments into Brunei, the establishment of a BOCHK branch in Brunei was another sign of Brunei and China’s strong bilateral relations, especially in trade and finance. It also illustrated BOCHK’s efforts to expand into the Asean market, a key region in China’s ‘One Belt, One Road’ (OBOR) initiative.
BOCHK’s role is to enable and encourage investments from Chinese companies to enhance local infrastructure, thus cementing Brunei’s status as a key figure in the OBOR initiative.
In January 2018, BOCHK celebrated the first anni- versary of its Brunei branch, whereby Wang Xiaolin, General Manager of the bank’s Brunei operations, highlighted that in its first year, the bank had man- aged to learn more about Bruneian society and culture, in addition to its economic ecosystem.
On the subject of economic diversification, he added that the bank hopes to create more business opportunities for local development and new banking experiences for the local community.
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