The United Overseas Bank on Thursday opened a branch in Suzhou, a city in southeast China's Jiangsu province, which was the 17th branch the Singaporean bank has opened in China.
The Suzhou branch of UOB will mainly provide cross-border RMB financing service for trades between China and Southeast Asia, said UOB China chairman Lian Voon Fui. UOB data showed cross-border trade and investment from Southeast Asia to China grew 10.6 percent year on year during the first half of 2015, of which some 16 percent flew into Jiangsu province.
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