The signing ceremony of the strategic cooperation framework agreement between Standard Chartered Bank and Tianhe district government. [Photo by Liu Liqin/southcn.com]
Standard Chartered Bank signed a strategic cooperation framework agreement with the Tianhe district government in Guangzhou on Aug 19, pledging to base its regional center for the Guangdong-Hong Kong-Macao Greater Bay Area in Tianhe with an investment of more than $40 million.
Standard Chartered Bank and Tianhe district will carry out mutual discussions around establishing special departments for banking business, serving customers from the Greater Bay Area and offering better financial services for regional scientific innovation companies and cross-border e-commerce companies in the upcoming five years.
The center will support the operation of personal and corporate banking services, promote the development and application of innovative financial technologies, and strengthen the cross-border banking business of Standard Chartered Bank in the Greater Bay Area.
It is expected that the number of staff working in the center will exceed 1,600 by the end of 2023.
Wang He, director of Tianhe commercial and financial working bureau, said that the cooperation between Tianhe district government and Standard Chartered Bank is a big step in boosting financial integration and cooperation in the Greater Bay Area.
Wang added that further cooperation between the two parties will also accelerate Guangzhou's ambitions to become a regional international financial hub and a financial ecosphere.
Bill Winters, CEO of Standard Chartered Bank, said that the bank has made the Greater Bay Area a core area in its development strategy and will launch innovative products and services to support regional development.
