Macau’s Tai Fung opens in Shanghai

Source: Xinhua | 2017-06-23

MACAU-BASED Tai Fung Bank yesterday launched its Shanghai branch to mark growing financial links between Shanghai and Macau under the Belt and Road initiative.

It is the first Macau bank to open a branch in Shanghai with services including deposits, loans, and insurance, especially for small enterprises in the Chinese mainland and Macau.

Tai Fung Bank’s Chairman Ho Hao Tang said the move reflects the growing financial connection between Macau and the mainland under supportive government policies, and the bank’s offshore business and historic links with Portuguese-language countries will benefit the Belt and Road initiative.

The Belt and Road initiative aims to build a vast trade and infrastructure network connecting Asia with Europe and Africa through central Asia and the Middle East.