Thailand's commercial bank, Kasikorn Bank, set up its China headquarters in Luohu District on Friday, with the aim of strengthening economic ties between China and Thailand and benefiting from the opportunities presented by the Belt and Road initiative.
The company said its China headquarters will further improve its services, expand its business map in China, help Chinese enterprises in going global and encourage two-way investment.
Banthoon Lamsam, chairman and chief executive officer of Kasikorn Bank, said Friday: “Guangdong and Thailand have a deep bond as 80 percent of the Chinese Thai people’s ancestors are from Guangdong Province. The trade volume generated between Guangdong and Thailand makes up one-third of the total China and Thailand trade volume.”
“As the most vigorous city in Guangdong, Shenzhen has outperformed others in the high-tech, financial service and other economic sectors. Thus, we chose Shenzhen as the location for our China headquarters.”
Ai Xuefeng, deputy mayor of Shenzhen, said the government has implemented a series of policies to support the development of the financial industry.
“We believe it [Kasikorn Bank’s Shenzhen headquarters] will play an important role in supporting Shenzhen enterprises in going global and facilitating Thai and ASEAN enterprises conducting business in our city,” said Ai.
Kasikorn Bank also inked a memorandum of understanding with the Department of Commerce of Guangdong Province to build a government-corporation cooperation platform and a information communication mechanism to facilitate more exchanges and cooperation. Kasikorn Bank is one of the four major commercial banks in Thailand.