SOME of the leading Canadian banks are expanding aggressively in the region, establishing sizeable operations in Hongkong and the mainland.
One of the more prominent Canadian banks in Hongkong is the Royal Bank of Canada. A leading financial services institution in North America and Canada in particular, the Royal Bank recently consolidated its position in the region when it established a branch on the mainland.
''On March 15, we established a full branch in Shanghai, becoming the first and only Canadian bank with a branch in China,'' said Sandy Dean, the deputy general manager of the bank in Hongkong.
''This is part of the bank's policy of establishing a niche in the fastest growing economies of the Asia-Pacific region,'' Mr Dean said.
The bank maintains close contacts with many of China's national import/export corporations as well as other clients globally who trade with the mainland.
''Royal Bank has been active in financing trade flows to Canada as well as to other destinations from China,'' he said.