Bank of China Hong Kong has received a regulatory approval from Brunei’s Monetary Authority to open a branch in the sultanate. When starts functioning, BOCHK would be the first Chinese bank having presence in Brunei. China’s vice minister of commerce Gao Yan said the branch opening marks a new phase of bilateral financial cooperation between Brunei and China. In a statement, BOCKH said Brunei is one of the most important countries along the Belt and Road route, as it is ‘politically stable and strategically located.’ BOCHK deputy CEO Lin Jing Zhen said the preparations to open the Brunei branch are in full swing.
