New Branch of “Bank of China” opens today in Ulaanbaatar

Along with the official visit by Chinese top legislator Wu Bangguo, another special event in Ulaanbaatar is the opening of a new branch of the Bank of China in the city.

One of four large banks of China to open a new branch in Ulaanbaatar City on Thursday.
The bank initially made a request to open its branch in Ulaanbaatar one year ago. The bank was granted permission to open a branch after the request was accepted.

The bank decided to open a new branch in Ulaanbaatar because of Mongolia’s fast growing economy and close financial relations.

The bank is one of the best 21 banks in the world. Wu Bangguo, the Chairman of the Standing Committee of the National People’s Congress, will attend the opening ceremony for the new branch in Ulaanbaatar at 4:00 pm on Thursday afternoon.