China Construction Bank Corporation (CCB) Hong Kong branch will start to offer private banking service as of September 17, announced a official with China Construction Bank in Beijing on Thursday, according to International Finance News on September 16.

The official said that the three sub-branches and wealth management center attached to the branch will open to business on the same day. The move marks a new milestone in CCB's pursuit of overseas business expansion, and in the meantime, it is also an important experiment for mainland's commercial banks to expand private banking and clients' financing businesses overseas.

The CCB Hong Kong branch's private banking service will be primarily focused on local medium- and high-end clients, HK businessmen with business ties and investment in China's mainland and medium,senior employees of Hong Kong firms that have close cooperative links with the branch's wholesale and investment bank services in Hong Kong as well as inland medium- and high-end clients who will seek their business expansion or be interested in investment products in Hong Kong.

CCB said it will give full play to its advantage in renminbi business, and offer a new multi-currency service with competitiveness.

By People's Daily Online