www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Rising business ties has Chinese banks eyeing Brazilian counterparts

By ZHANG FAN in Sao Paulo (China Daily Latin America) Updated: 2014-09-08 03:34

Rising business ties has Chinese banks eyeing Brazilian counterparts

Song Yang(right), Chinese Consul General in Rio de Janeiro, Zhang Dongxiang (left), president of Bank of China Brazil, and Qu Yang (middle), vice-president of State Grid Brazil Holding, at the launching ceremony of Bank of China's branch in Rio de Janeiro on Aug 29. [Photo by Zhao Yan / Xinhua]

The steadily increasing trade between China and Brazil has attracted more Chinese banks into the Latin American country to complement their international network and provide financial services to clients in both nations.

For example, China Construction Bank Corp's (CCB) 1.6 billion reals ($713.8 million) acquisition of Banco Industrial de Comercial SA marks its first step in entering the Brazilian market. CCB gained 72 percent of BicBanco through the acquisition on Aug 29, which is also the largest overseas merger and acquisition by a Chinese bank in Latin America.

BicBanco will file a plan with Brazilian regulators to buy out minority shareholders and cancel its publicly listed company status shortly. Because of the acquisition, the Sao Paulo-based bank's stock price increased to 8.03 reals on Sept 1 from Aug 29's 7.70 reals, according to BM&F Bovespa, a local stock exchange in Brazil.

Brazil has been an important target market for CCB's international strategy especially with the increasing trade volume between China and Brazil in recent years, according to an official from CCB who preferred to stay anonymous.

CCB is the third Chinese bank entering Brazil after Bank of China and Industrial and Commercial Bank of China. Though Chinese companies are among their priorities, local clients in Brazil are becoming more and more important for these Chinese banks.

Bank of China recently launched a new branch in Rio de Janeiro five years after its first Brazilian branch office was established in Sao Paulo. The bank now has more than 100 branches globally in about 25 countries and regions.

"We hired Brazilian customer managers to develop local clients because our service is not only for Chinese companies but also large Brazilian enterprises which has become a main part of our business in Brazil," said Zhang Dongxiang, president of the Bank of China's Brazil unit.

Zhang said through the cooperation with Brazilian banks, BOC has provided financial service for Vale, Petroleo Brasileiro SA and Brasil Foods SA. "Our global network is among the main advantages for us," he added.

Industrial and Commercial Bank of China (ICBC) entered the Brazilian market in 2011 as preparatory institution and began its official operation in 2013. Through one year's development, it has developed more than 20 local clients. "Brazilian companies welcome Chinese banks and local banks also want to complete the list of their global partners thorough the cooperation with us," said Zhao Guicai, the president of ICBC Brazil.

ICBC remains the world's largest bank with total assets of $3.18 trillion as of last March, according to the 2014 bank ranking from SNL Financial, a financial data provider. It took more than 80 percent stake in Standard Bank of South Africa in Argentina in 2012, marking the first time ICBC entered Latin America.

"ICBC Brazil aims to support Brazilian companies' exports with the joint effort of our entire Group networks across the world," Zhao said.

Such a model has proven to be effective as ICBC Brazil has established cooperation with leading Brazilian exporting companies such as JBS SA, the largest protein processing enterprise, Biosev, one of the top players in local sugar market, and Cooxupe, the largest Brazilian coffee exporter.

"There are many opportunities as well as challenges in Brazil. Chinese banks need to strictly comply with Brazilian laws and regulations and carefully study local markets and clients in order to gain sustainable development," Zhao added.

fanzhang@chinadailyusa.com

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 国产成人毛片视频不卡在线 | 91色视| 香港aa三级久久三级老师 | 91综合精品网站久久 | 亚洲天堂男人 | 草草久| 亚洲qingse中文久久网 | 一级毛片牲交大片 | 成人国产在线不卡视频 | 国产精品尹人在线观看免费 | 国产韩国精品一区二区三区久久 | 亚洲美女高清aⅴ视频免费 亚洲美女黄色片 | 日韩美女视频在线观看 | 伊人久久国产免费观看视频 | 99免费精品视频 | 日韩一级视频在线观看播放 | 亚洲网站视频在线观看 | 九一国产精品视频 | 成年人免费观看网站 | 国产成人免费在线观看 | 亚洲国产一区二区三区综合片 | freex性日韩| 欧美一级毛片aaa片 欧美一级毛片不卡免费观看 | 欧美色大成网站www永久男同 | 成人丝袜激情一区二区 | 成人69| 欧美在线香蕉在线现视频 | 欧美色xxxx | 精品国产一二三区 | 精品一区二区三区视频 | 亚洲一区二区中文字幕 | 欧美精品免费看 | 日韩女人做爰大片 | 草久在线视频 | 国产激情视频网站 | 在线看免费观看韩国特黄一级 | 欧美亚洲激情视频 | 99精品视频免费在线观看 | 国产特黄特色的大片观看免费视频 | 91久久精品一区二区 | 国产一级爱c片免费播放 |