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Outback in Pudong(附图)
http://www.sina.com.cn 2003/07/28 09:50  上海英文星报

  AN unusual reception awaits visitors to the Australia and New Zealand Bank in Pudong: Ned Kelly, the legendary Australian bushranger and bank robber.

  At least, what's left of him. Kelly, was hanged in 1880. At the entrance of the ANZ bank is a reproduction of his famous armour, which protected him from soldier's bullets while he and his gang escaped with their ill-gotten gains.

  All around and oblivious to the outlaw's commemorative armour are the bank's financial tickers and industrious deskworkers - some of whom have been there for the full length of ANZ's Shanghai operation: 10 years.

  On July 29, the Shanghai office of the Australia and New Zealand Bank (ANZ) celebrates its 10th anniversary, marking it as ANZ's oldest full branch in China.

  Although the Beijing office opened first in 1986, it did not become a full branch until 1997, serving 11 years as a representative office.

  Hailing from Melbourne, Victoria - the same province as our friend the helmeted bushranger - Bank President Andrew "Jock" McGregor, has been working at the Shanghai office since November, 2000. He had previously worked one year at the Beijing Branch (a Representative Office until 1997), and travelled with his family in Southern China.

  Though his son "fell in love with Beijing," McGregor feels Shanghai is "easier for Westerners" to live in. Probably, he suggests, it's because more people in Shanghai speak English. McGregor's wife, son, and daughter have all studied a little Mandarin,

  During the bank's 10 years in Shanghai McGregor says there have been "exciting, big" changes in the city and bank's development. Shanghai, even in comparison to Beijing, has freer business and more support from Chinese regulators.

  McGregor believes that, whereas many foreign banks were struggling some years ago, they have now become "an integral part of the Chinese economy." ANZ is now ranked among the top 10 banks in Asia.

  Also, he adds, the competition brought on by these foreign banks has pushed local banks to restructure and become "much more big and capable".

  ANZ Shanghai received its RMB licence in 2000, allowing it to perform all currency conversions. ANZ's Shanghai and Beijing branches are full service commercial banks offering banking services and facilities in a number of foreign currencies.

  The process for a bank to receive an RMB licence is lengthy; first, the bank must establish a representative office, followed by a branch. After the branch demonstrates adequate profitability for three years it is eligible to apply to the China Banking Regulating Committee (CBRC) for an RMB licence.

  With branches dating back to the early 70s from South Korea down to Indonesia, and its central office in Singapore, ANZ naturally expanded to China when the opportunity arose. "The China operation is the key to Asia," McGregor emphasizes.

  He is modest and optimistic about the bank's operation in China. Neither SARS nor international security issues have adversely affected the business. Australia continues to be a top supplier to China of a lot of raw materials, such as steel and timber; the foreign-owned and joint-venture companies in which ANZ has invested are also doing well.

  As to security, ANZ has a uniform, strong international security code for all its branches.

  This Tuesday at 6:30pm, ANZ Shanghai will celebrate its 10th anniversary with a cocktail and jazz party at the Four Seasons Hotel.




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