Raiffeisen Zentralbank Osterreich (RZB) has opened a representative office in the Chinese city of Harbin, having just won authorisation from the Chinese authorities. The new office is mainly focusing on trade and project financing with a focus on mining, commodities and the chemical industry.

“With our new representative office in Harbin we expand our operations to cover the dynamic economic region in north eastern China. RZB already has more than 30 corporate clients in this region and we can provide even better services for them through this office. Furthermore, we intend to bring new clients on board as well,” comments RZB CEO, Walter Rothensteiner.

Harbin is the largest city in north eastern China, found in between Mongolia, Russia and the Korean peninsula.

“This region is one of China’s economic powerhouses. With Harbin as urban centre, it is the most important trade hub between Russia and China. Thanks to its strong position in Russia RZB Group can add significant value for the local economy,” adds deputy chairman Herbert Stepic, responsible for international business at RZB.

The office is the sixth Chinese base for the bank, with other offices in Beijing, Xiamen, Zhuhai and Hong Kong.