OREANDA-NEWS. May 20, 2011. Sumitomo Mitsui Banking Corporation (SMBC, President: Takeshi Kunibe) announced today that its wholly-owned subsidiary Sumitomo Mitsui Banking Corporation (China) Limited (“SMBCCN,” President: Kazunori Okuyama) has opened Shenzhen Branch in Shenzhen Guangzhou Province, People’s Republic of China, as part of its efforts to further strengthen its office network in mainland China.

Shenzhen City is located adjacent to Hong Kong. Since the establishment of the first special economic zone in China in 1980 and a world-class container port, the city has been developing remarkably as a driving force of economic growth of South China. In addition, the Shenzhen Stock Exchange ranked fifth in the world in terms of value of shares traded in 2010 behind the Tokyo Stock Exchange, and the city is attracting attention for its potential to become a new financial center.

For SMBC, China is one of its most important markets in the world. SMBC’s goal is to offer comprehensive financial products and services to its clients in China, and a full network of three branches in South China, including SMBCCN’s Shenzhen Branch, Guangzhou Branch and SMBC’s Hong Kong Branch, is a key initiative for achieving this goal.