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Bank of China plans overseas expansion; to launch funds in Switzerland

 

Thursday, Sep 10,2009, 9:48:45 PM   Click:

Bank of China, which is engaged in the provision of a range of banking and related financial services, including commercial banking, investment banking and insurance business, is planning to launch 24 funds in Switzerland through its asset management division in the country.

The bank is planning for an overseas expansion and intends to raise money through the first group of yuan-based Swiss funds, according to media reports.

The company, as quoted by Reuters, said: "This will help Chinese retail and institutional investors hedge against foreign exchange rates risks and invest in international financial markets. At the same time, this will help foreign retail and institutional investors invest in the Chinese financial market."

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