China welcomed the Dutch lender ABN AMRO as it opened a branch in Shanghai on March 1, with the goal of providing immediate support for the city's corporate clients.

After Netherland's biggest retail bank established a representative office in China in April 2012, it has gained approval to operate a branch office in Shanghai. Chinese officials approved the bank's plan to open the branch in October 2015, and the office was officially opened to public at the beginning of this month.

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Following the opening, the Dutch bank can now provide a wider range of services and products to its clients, Gerrit Zalm, ABN AMRO's managing board chairman, said. This also marks another milestone in the international growth ambition of ABN AMRO.

Maureen Derooij, an executive of the Dutch bank in the mainland, said that with China as the biggest global energy consumer and the largest commodity producer, the country is a very essential market.

ABN AMRO's branch in Shanghai will concentrate on catering to global clients in industries including shipping, commodity finance, oil and gas and offshore oil services, according to China Daily. The branch will be managed by Arthur Zoun. 

ABN AMRO can now offer its services to both corporate and private clients in the Asian Pacific region using its regional offices in Singapore, Shanghai, Hong Kong and Tokyo.

Netherlands is China's second biggest trade partner in the European Union. ABN AMRO, on the other hand, already has a history of being one of the major sources of trade finance among nations for two centuries.

TagsABN AMRO, Dutch Bank, The Netherlands, china, Shanghai, trade and finance