RBS announces official opening of Beijing branch

Royal Bank of Scotland (RBS) announced on 22 August the official opening of its Beijing branch.

Adding to its current Shanghai branch which opened in 2004, the Beijing branch serves to strengthen its influence in China and also the strategic cooperation between financial institutions of the two nations. John McCormick, CEO of RBS Asia Pacific, said that the Beijing branch represents a milestone in the development of RBS in China.

Additionally, the China Banking Regulatory Commission has given permission to RBS to start RMB-operations which will increase its activities in China.

The Beijing branch offers debt, risk management, and local investment products.