Record Bilateral Trade Figures Mark Bank Of China New Zealand 2nd Anniversary

(SPONSORED CONTENT) “Latest China-New Zealand trade statistics illustrate the value Bank of China (New Zealand) brings to the economic relationship as the bank marks its second full-year of operation in New Zealand,” as reported in an official statement.

According to Bank of China (NZ)’s Chief Executive David Lei Wang, bilateral trade has nearly tripled to $23 billion since the singing of the Free Trade Agreement, demonstrating the strength of the China-New Zealand relationship and the impact of Chinese banking services in fostering cross-border transactions and investment.

“Since the bank’s inception, we have been pushing forward and making breakthroughs in all lines of business and we can take a lot of pride with what we have achieved to date,” he said.

“The fact that business services are the number one import of all services from China to New Zealand shows we’re making a real difference. Now that President Xin Jinping has announced at the APEC Leaders’ Summit an upgrade to the trade agreement, we can move forward with confidence to further develop the relationship to both countries’ benefit.”

Milestones achieved since inauguration day include “extensive cross-border matchmaking to improve bilateral trade and investment”, “development and implementation of family wealth management specialty services” as well as “trade financial services and international settlement for more than 50 local New Zealand businesses”.

“As a local Chinese-funded overseas bank, we are here to support local economic development and we have achieved important milestones in meeting that ambition, with the support from the New Zealand business community,” said Wang.

“Looking to the future, we will continue to uphold our philosophy of ‘Serving Society, Delivering Excellence’, through our contributions to the local market and the support for the local community.”

“Meanwhile, we will continue to explore investment and trade opportunities in NZ’s Agriculture, Tourism and Hospitality sectors,” he said.

“Bank of China (New Zealand) Limited (BOCNZ) was established on 21 November 2014, with the unveiling ceremony attended by Prime Minister John Key and Chinese President Xi Jinping. As a wholly owned subsidiary of Bank of China Group, BOCNZ aims to improve trade and investment between China and New Zealand, providing high quality banking services and financial products to clients including Chinese company investing in New Zealand and New Zealand manufactures and exporters trading with China.”

Article Source: [Sponsored Content], Bank of China, November 22, 2016