March 26, 2007

Sumitomo Mitsui Banking Corporation

 

 

Opening of Tianjin Binhai Sub-Branch in PRC

 

 

TOKYO, March 26, 2007 --- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced that its Tianjin Binhai Sub-Branch in Tianjin Binhai New Area, Tianjin City, the People’s Republic of China (PRC), commenced business today as a part of its efforts to strengthen its office network in mainland China.

 

Tianjin Binhai Sub-Branch, located in New Area, Tianjin City , is just the latest step in the ongoing efforts of SMBC to satisfy the needs of its customers in the Tianjin region since becoming the first Japanese bank to open a branch in the city in 1995. New Area has been experiencing a remarkable development in recent years and is expected to attract even more investment by Japanese and other foreign companies. In addition, the Chinese government is considering establishing New Area as a model for deregulation and liberalization of the Chinese financial markets and SMBC intends to establish the area as one of its pillars for providing new financial services and information to its customers in China .

 

A Chinese manager heads the Tianjin Binhai Sub-Branch – the one and only local manager of a Japanese bank in mainland China . Providing more local oriented services is another key initiative of SMBC in China and it will continue to actively promote the local staff to important positions.

 

For SMBC, China is one of its most important markets. It established China Division in December 2006, which is the forth overseas division following The Americas, Europe and Asia Divisions, in order to enhance and speed up services, and the establishment of a full network in China with eleven offices including the newly opened Tianjin Binhai Sub-Branch and the Suzhou Industrial Park Sub-Branch* slated to be opened is a key initiative for achieving this aim.

 

Profile of Tianjin Binhai Sub-Branch

Registered Name	Sumitomo Mitsui Banking Corporation, Tianjin Binhai Sub-Branch
Address	8F, E2B, Binhai Financial Street, No.20, Guangchang East Road , TEDA, Tianjin , PRC
General Manager	Wen Cheng Feng, Mr
TEL & FAX	TEL: 86-(22)-6622-6677 FAX: 86-(22)-6628-1333

 

Outline of the Tianjin Binhai New Area

Tianjin region has been attracting attention as the third hub of economic growth of China , with “Zhujiang delta area” (main cities are Shenzhen, Guangzhou , etc.), and “Changjiang delta area” (main cities are Shanghai , Suzhou , etc.) the other two hubs. In 2006, the Tianjin Binhai New Area was officially granted a state-level status in China ’s “Eleventh Five-Year Plan”. Its total industrial output target, in terms of value, to be achieved by 2010 is about JPY 4.8 trillion (RMB 320 billion).

 

SMBC’s office network in mainland China (after opening of the abovementioned sub-branches)

Branches:                                Shanghai , Tianjin , Suzhou , Hangzhou and Guangzhou

Sub-Branches:                  Tianjin Binhai, and Suzhou Industrial Park (*)

Representative Offices:                 Beijing , Shenyang , Dalian and Chongqing

Total:                                           Eleven offices

 

Note: SMBC obtained the approval for preparing establishment of Suzhou Industrial Park Sub-Branch from the local authority in November 2006, and is preparing for its opening, subject to the Japanese authority’s approval.