ABN-AMRO Bank has opened a branch in Shenzhen and expects to expand its network in China to at least six other cities by 2000.
Jan Kalff, chairman of the Dutch banking giant, said in Shenzhen yesterday the new branch provided a bridge between southern China and Hong Kong.
'The spectacular growth and vigour of southern China over the years have generated substantial business interests and opportunities for the bank's customers, and we will continue to see further advances in this direction,' he said.
The bank has three other offices on the mainland - a branch in Shanghai and representative offices in Beijing and Guangzhou. It has applied for permission to build its national headquarters in Shanghai.
The bank said it was the biggest arranger of syndicated loans in China, with six issues totalling US$940 million, or 22 per cent of the total market. This is including a $781.3 million issue for Export Import Bank of China.
In the past decade, it granted about $400 million in commercial loans to more than 70 Chinese projects and institutions, he said.
