The Bank of East Asia (BEA) has reached an agreement with Shenzhen Qianhai Financial Holdings Co. Ltd on the establishment of a fully-licensed joint venture in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, BEA announced on Monday on its website.
The bank will soon submit its application to register the joint venture in Qianhai. Upon approval, the joint venture will provide a full range of investment banking and securities businesses in China.
The bank opened its Shenzhen Qianhai sub-branch in 2013, making it among the first batch of foreign banks to expand into Qianhai.
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