The Bank of China (BOC) Jakarta Branch has officially resumed
business after a nearly four-decade suspension, said BOC spokesman
Wang Zhaowen Friday.
The operation of the branch was approved by the People's Bank of
China and the Bank of Indonesia, the two countries' central banks.
So far, the BOC has established 582 overseas branches and
subsidiaries across the globe.
The BOC originally established three branches in Indonesia in 1938,
but for a variety of reasons, these branches were suspended in
1964.
"The resumption of the Jakarta Branch has won full support from the
Chinese and Indonesian governments," Wang said. "This move shows
both sides' strong confidence in the prospect of economic and trade
development, and is a further extension of our services in major
countries in Asia."
The branch began trial operation on April 15 and since then has
drawn wide attention from all walks of life in Indonesian
society.
Established in 1912, the BOC has developed into a large
international bank. Its domestic and overseas branches and
subsidiaries had reached 12,671 by the end of 2002, according to
its latest annual report.
"Both our domestic and overseas subsidiaries will strictly abide by
local rules and regulations and strive to provide quality financial
services up to international standards to our customers," Wang
added.
(Xinhua News Agency May 9, 2003)