MOSCOW, October 20 The Bank of Russia approved the opening of two branches of Alfa Bank in China, now the work is on the side of the Chinese regulator, said the chief managing director of the credit institution, Vladimir Verkhoshinsky, speaking on the «Made in Russia» forum.
«We are now moving along the path of opening branches in China — in Shanghai as the business capital and Beijing as the political capital. Our Russian Central Bank has just approved the opening of these two branches, and for this we specially thank the Central Bank. And especially thank you «that they approached this in a super non-bureaucratic manner, we saved three months of the planned procedure. So now the work is on the side of the Chinese regulator,» he said.
Alfa Bank reported in September that its board of directors decided to create two branches in China — in Beijing and Shanghai. Previously, the bank launched a service for working with China for importers and exporters.