Standard Chartered Bank opens new branch in Hefei

Standard Chartered China opened its new Hefei branch on April 26, aiming at improving and strengthening its business layout in the Yangtze River Delta region.

The branch will provide Chinese and foreign enterprises operating in Anhui with services in areas that include corporate finance, settlement and clearing, financial markets and transaction banking to support their local operations and international development.

With the opening of the branch, Standard Chartered now covers Shanghai, Jiangsu, Zhejiang and Anhui.

"Anhui Province has leading regional innovation capabilities, especially in the rapid development of cutting-edge areas such as semiconductors, new-energy vehicles, artificial intelligence, and high-end manufacturing," said Zhang Xiaolei, president of Standard Chartered Bank (China) Ltd.

"We fully support local enterprises in Anhui to develop global supply chains and enhance international competitiveness. We also support foreign-funded enterprises to deeply cultivate and expand the local market in Anhui."

Standard Chartered opened its first branch in China, in Shanghai, in 1858.

In 2022, the group said it would invest US$300 million in China-related businesses over the following three years.

About a third of Standard Chartered China's outlets and employees are in the Yangtze River Delta region.