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Bank of China sets up branch in Romanian capital

Bank of China Ltd. set up a branch in Bucharest, Romania, which is the first branch of a Chinese bank in the country, the lender said Dec. 17.

The branch will provide support for local enterprises to explore the Chinese market and for Chinese companies to invest in central and eastern Europe. It focuses on deposit taking, lending, remittance, international settlement and trade finance.

The branch is expected to enhance the lender's central and eastern European presence, said Chairman Liu Liange at the branch's opening ceremony Dec. 16.

The Chinese state-owned bank has also unveiled a plan to open its first branch in Greece as early as the end of 2019, according to a Reuters report in August. The lender has a presence in more than 60 countries and areas globally.