Credit Suisse, Switzerland's second largest bank, on Tuesday announced the opening of a representative office in Guangzhou, thus strengthening its business presence in southern China.

"With the opening of our Guangzhou Office, we will be even better placed to seize the opportunities that are emerging in the fast growing economy of China's southern provinces," Fidelis Goetz,a CEO in charge of Asian affairs, said in a statement.

"Asia is a primary growth region for Credit Suisse. In strategic terms, we will maintain and enhance our leadership position in this market by offering first-rate banking services," he added.

Besides Guangzhou, the Zurich-based Swiss bank has already opened offices in Shanghai and Beijing.

According to Credit Suisse, the office in Guangzhou will serve as a key strategic platform from which it can operate in China's high-potential market and use opportunities created by China's accession into the World Trade Organization.

Source: Xinhua