The Hengqin branch of the Bank of Communications (BOCOM) settled in the financial industry service base in Hengqin recently, the Zhuhai Daily reported. This is also the 23rd service point of the branch.
The Hengqin offshore financial center of BOCOM also opened at the same time. Among the five state-owned banks, BOCOM is the only bank which can provide offshore service. The center will help BOCOM make good use of the domestic and overseas market, and lower the financing cost and the exchange rate risks for enterprises in the Hengqin New Area.