Hengfeng Bank opened its Shanghai branch on Wednesday, marking its 13th branch on the Chinese mainland. The bank planned to set up a sub-branch in the Shanghai Free Trade Zone (FTZ) in the second half of 2016. Formerly Yantai Housing Savings Bank, Hengfeng was founded in Yantai, a prefecture-level city in coastal Shandong Province in October 1987, and renamed as the current name in July 2003..


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