Bank of Communications established an offshore financial business center in the Lin-gang Special Area of the China Shanghai Pilot Free Trade Zone on June 16.

The BoCom offshore financial business center is unveiled in Lin-gang Special Area on June 16. [Photo/WeChat account: shlgguanweihui]

The center will focus on supporting major industrial clusters, building cross-border service chains, supporting the development of real enterprises, and promoting Lin-gang to become a center for cross-border capital flow and redeployment in the Asia Pacific region.

Liu Ganghua, CEO of the BoCom offshore financial business center, introduced the bank's cross-border financial services, saying that the location of the center in Lin-gang is conducive to further strengthening the integration of the offshore business service system and the construction of Lin-gang.

BoCom, the only central financial enterprise headquartered in Shanghai, has worked closely with the Lin-gang Special Area Administration, introducing a series of practical initiatives and innovative businesses practices since the establishment of Lin-gang Special Area.

Wu Wei, deputy director of China (Shanghai) Pilot Free Trade Zone Lin-gang Special Area Administration, expressed hope that BoCom can give full play to its license operation advantages and provide "international, comprehensive and integrated" financial services centering on key industries and social livelihood in Lin-gang.

The Shanghai branch of BoCom also signed with companies which intended to set up operations in Lin-gang on the same day.

The Shanghai branch of BoCom signs with companies which intend to set up operating in Lin-gang Special Area on June 16. [Photo/WeChat account: shlgguanweihui]