UCBH's Thomas S Wu (centre) with InvestHK's John Rutherford and UCBH's general manager Tony Tsui at UCB's upgraded branch in Hong Kong

UCB intends to use its new branch in Hong Kong as a springboard to the Greater China region that will include establishing representative offices in the Chinese mainland and Taipei in the near future. This underlines an increase in the demand for financial services as the liberalisation of the mainland market under WTO and Cepa generates more trade flows between China and the world.

Chairman, President and CEO of UCBH Holdings Inc Thomas S Wu said Hong Kong's branch office will increase the bank's trade finance capabilities in the Pacific Rim and provide seamless international banking services to UCB's clients in the region.

"Being the financial bridge to our customers with strong market knowledge, resources and expertise on both sides of the Pacific Rim, and with our in-depth understanding of Chinese culture and values, we believe we will do well here in Hong Kong because of our solid infrastructure established in the US and Hong Kong," added Mr Wu.

John Rutherford director-general of investment promotion at InvestHK, a government agency tasked with attracting inward investment, said Hong Kong offers many competitive advantages that set it apart as the region's first-choice banking base.
"Hong Kong has one of the highest concentration of banks in the world, with 70 of the top 100 institutions based in Hong Kong."

UCB is a leading California bank serving the ethnic Chinese community with assets of about US$5.5 billion.

Related link:
United Commercial Bank   www.ibankunited.com