OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ (China), Ltd.,(BTMU China) a wholly-owned subsidiary of the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) recently acquired approval of the preparation for opening Fuzhou Branch from the China Banking Regulatory Commission (CBRC), 2015.

BTMU China will follow the various procedures and make preparations for opening its Fuzhou branch. Fuzhou is the capital of Fujian which is located in the southeast area of China. Since it is geographically close to Taiwan and Hong Kong, many Taiwan and Hong Kong-affiliated companies have advanced into this area.

Fujian has been designated as a target area of China's "One Belt & One Road" national strategy, and a "Free Trade Zone"*2 was established in April 2015. Fuzhou is expected to develop further as its capital city.

This is a new economic zone strategy put forward by China that aims to build a "Silk Road Economic Belt (One Belt)" and a "21st Century Maritime Silk Road (One Road)." It promotes the liberalization of trade and investment while making infrastructure investments primarily in developing countries.

This is a pilot zone where trade and financial deregulation are being implemented on a trial basis. These zones have been established in Shanghai, Tianjin, Guangdong, and Fujian as of June 2015. Since opening its Chinese local subsidiary in July 2007, BTMU had been striving to enhance service to customers in China. With the addition of Fuzhou Branch, BTMU's network across China (excluding Hong Kong) will consist of 13 branches and 6 sub-branches, for a total of 19 offices. BTMU China will continue to utilize the largest network of any Japanese bank to provide an even better response to customer needs.