Dutch bank opens first branch in Shanghai

Dutch lender ABN AMRO has opened a branch in Shanghai focusing on supporting the bank's corporate clients in the region.

Authorities approved the launch of the branch in October last year, and it officially opened on March 1.

The Dutch bank with a history of some 200 years has had a representative office in Shanghai since April 2012.

China is an important market for the lenders' global clients, according to Gerrit Zalm, chairman of ABN AMRO's managing board. The Netherlands is China's second largest trade partner in the European Union.

"With a branch we are able to offer our clients a broader range of services and products. It also marks a further step in our selective international growth ambition," said Zalm.

Maureen Derooij, country executive for China said: "China is an important market for our clients given the country's position as the leading global consumer of energy, as well as being the world's largest producer of commodities".

The Shanghai branch will focus on providing solutions to global clients in sectors such as commodity finance, shipping, oil and gas and offshore oil services.