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Indonesia's largest bank, Bank Mandiri, expects to strengthen
its presence in China by upgrading its representative office in the
country into a full branch.
Bank Mandiri executive Agus Martowardojo said the bank's request for
the expansion was presented to the Chinese government during Trade
Minister Mari E Pangestu's recent visit to the country.
China's Trade Minister Bo Xilai is expected to help facilitate the
application process to aid the unit's immediate operation as an
official Bank Mandiri branch.
Bo Xilai is said to have responded positively to the request, pledging
his part in facilitating the process by coordinating with the China
Banking Regulatory Commission (CBRC), a release said.
"Indonesia is very liberal in this regard. We've opened our doors to
ICBC China, Bank of China, all of which have marketed their products
all the way to Majalengka, Garut and Papua," Agus said. "But our office
branch in China, unfortunately, is still a representative office, not a
fully operating branch.".
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