20 May, 2016

Bank of China Launches in Adelaide

In another sign of our city’s strong and growing relationship with China, the grand opening of Adelaide’s first Bank of China (BOC) branch was held at Town Hall today.

BOC Adelaide branch will be the 10th branch of the bank in Australia, and the first Chinese bank in South Australia. The bank’s presence will help facilitate Chinese businesses to invest in Adelaide and trade with local businesses.

Lord Mayor Martin Haese congratulated the management of BOC for choosing Adelaide as a location to do business and grow their services.

“The opening of this BOC branch here in Adelaide is a symbol of our strengthening relationship, and the ever growing close bond between our two nations,” said Martin.

“In our most recent delegation to Qingdao in April, more than $15 million worth of new business deals were signed by City of Adelaide businesses.

“China is now South Australia’s largest two-way trade partner and we are seeing strong increases in investment, both in Adelaide from China, and of Adelaide based companies in China.

“Our local Chinese community is also integral to South Australia’s success, creating businesses, sharing their culture and enhancing our community in many ways.

“We are also seeing an increase in the Chinese Business Migrant community in Adelaide, which is truly flourishing, bringing investment and jobs.

“The opening of this branch will service our significant local Chinese community and many migrants choosing Adelaide as their new home.”

BOC Adelaide branch is located in the centre of the city at 1 King William Street. BOC was formally established in February 1912. Over the century, the bank has served as China’s central bank.

Matthew Halliwell