Approval-in-Principle Obtained to Establish ABC Hanoi Branch

On the afternoon of November 12, 2017, before the heads of state of both China and Vietnam, Le Minh Hung, Governor of the State Bank of Vietnam, and Zhou Mubing, Chairman of ABC, issued an approval-in-principle for the establishment of Agricultural Bank of China (ABC) Hanoi Branch. The approval was officially written into the China-Vietnam Joint Statement.

  ABC has steadily pushed ahead with international expansion, establishing 19 overseas institutions and one joint-venture bank in 16 countries and regions. The Hanoi location will be dedicated to serving the "Belt & Road” initiative, Two Corridors and One Economic Circle, and China-ASEAN and Lancang-Mekong Cooperation. The branch will leverage its financial services and competitive advantages to provide financial support for bilateral projects in the key areas of infrastructure construction, trade and economic partnerships, production capacity, cross-border economic collaboration, and agriculture. The overall objective of the ABC Hanoi branch is to facilitate financial cooperation and enhance the economic and trading ties between China and Vietnam.