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Bank of China gets license to offer services in New Zealand

Bank of China Ltd. has been registered by the Reserve Bank of New Zealand to provide banking services in the country, and will operate locally as a branch.

The move comes after China Construction Bank Corp. also obtained a license to operate as a branch in December 2017.

Bank of China's local unit Bank of China (New Zealand) Ltd. has been offering banking services in New Zealand since November 2014, according to a March 29 release.