Standard Bank opens a branch in Johannesburg to serve Chinese business

Beijing. February 12. Silkroadnews - Standard Bank opens a branch in Johannesburg to serve the Chinese business, the newspaper “People’s Daily” reports.
“Johannesburg- Standard Bank’s launch of its first dedicated branch in Africa to service the Chinese business community unlocks exciting future business and trade potential between the continent and the world’s second largest economy. This is another step in the bank’s ongoing commitment to deepen and grow the Africa-China investment and trade corridor,” the report said.
Consul General of the People’s Republic of China in Johannesburg, Ruan Ping said the strategic cooperation between the South Africa’s Standard Bank and the Industrial and Commercial Bank of China serves deepening economic and trade relations between China and South Africa.
“We are now opening the market’s first dedicated full-service branch in the Crown Mines area. We chose this area, because it’s where many entrepreneurs and businessmen from neighboring countries obtain their supplies from Chinese wholesalers,” the agency quoted saying by George Lo, executive director of Africa China Banking at Standard Bank.
The full-service department will employ staff who speak both Chinese and English, who will be able to serve both Chinese customers and any others. Standard Bank Group already has more than 100 Chinese account managers, bankers and consultants, including Chinese-speaking traders in the bank's operating rooms.