(CQNEWS) HSBC Chongqing Dazu Town Bank Company Limited was established on Aug. 12, according to Chongqing Banking Regulatory Administration yesterday.  

This is the first town bank in Chongqing and the first wholly-foreign-owned one in west China. 

It is a wholly-foreign-owned bank of Hongkong and Shanghai Banking Corporation Limited with registered capital of 40 million yuan. It will fulfill the development demand of farmers, agriculture and rural economy first and then invest spare capital to other local industries further. (Translated by Shi Yanling, Fathom Language International)