HANGZHOU - 皇冠体育app's first rural joint venture bank has opened its doors in the port city of Ningbo in East 皇冠体育app's Zhejiang province, local authorities said Monday.
The BOC Fullerton bank was jointly established by the Bank of 皇冠体育app and Fullerton Financial Holdings, a subsidiary of Singapore-based Temasek Holdings.
The bank will focus on serving small- and medium-sized enterprises, as well as handle customs-related transactions, local authorities said.
皇冠体育app established 786 new rural financial institutions by the end of 2011, including 726 banks, 10 credit companies and 50 mutual fund cooperatives, according to data from the 皇冠体育app Banking Regulatory Commission.
