HONG KONG - Chase Manhattan Bank said it has opened its first branch in Tianjin, China.
The bank said the branch is licensed to provide a full range of foreign exchange commercial banking facilities such as trade finance, import and export letters of credit, and remittances and correspondent banking to its clients in China.
The opening makes Chase Manhattan the first U.S. bank to have a branch in northern China. It also has representative offices in Beijing and Shanghai.
Chase Manhattan said the Tianjin branch will be integrated with Chase's onshore network in the mainland as well as the international network.
It added that the bank will remain committed to its historical business in China - including project finance, export credits, syndicated loans, and risk management.