1. FORTIS BANK Group’s presence in China.
China has been since long a target country for the Fortis Bank Group in various fields of activity.
The BELGIAN BANK established its first subsidiary in Shanghai in 1902 and in Hong Kong in 1935, and is still a prominent Bank on the Hong Kong market today.
In addition to this presence in Hong Kong, Fortis Bank is also present in China through a Branch in Guangzhou, and representative offices in Beijing and in Shanghai.
MEESPIERSON, member of the Fortis Group is also present in different places in China i.e. through branches in Shanghai and in Hong Kong and a representative office in Beijing and Changsha.
2. Services provided by the Fortis Bank’s group in China.
In the People’s Republic of China, Fortis Bank’s subsidiary in Guangzhou provides local and foreign companies with foreign currency commercial banking services focusing on transactions related to import and export. It assists Belgian Bank’s customers who operate factories or trading companies in Southern China as well as Generale Bank’s European clients in their trade and investment activities in China.
The representative offices in Beijing and Shanghai are providing counselling to Fortis Bank’s customers as importers/exporters or investors in the commercial activities.
Fortis Bank’s in S.A.R. Hong Kong is providing a full range of services through different entities :
- the wholly-owned subsidiary, Fortis Bank – Wa Pei Fu Tong Yin Hang, conducts full-service commercial (trade finance) and consumer banking business. It has 30 branches throughout the S.A.R. and some 900 staff
- the Fortis Bank, Hong Kong Branch (opened on April 1, 1997) is active in treasury, foreign exchange dealing and other financial products, assuring our bank’s round-the-clock presence in the Financial Markets
- Grand Generale Asia (a joint-venture between Generale Bank and Guangdong Development Bank) has been, since July 97, a fully operational unit within the asset management business line. As a fund manager, it is in charge of the management of assets invested in Asia and asset management for Asian customers.
MeesPierson is in the People’s Republic of China basically focusing
on trade and commodity finance.
In Hong Kong, they provide a full range of merchant banking, including
Asset Management, Trade Finance, Treasury, Corporate and Private Banking.
3. Export and Project Finance activities in relation with China.
Fortis Bank is also active in the EXPORT AND PROJECT FINANCE business from its specialized unit based in Brussels.
GEPF has been developing its activities on the Chinese market since the 80’s, evolving gradually from export to project finance.
The export and project finance activities in China are client driven, our clients being Belgian, European and multinational exporters, contractors, investors and operators.
The Representative Offices and the local Branches of Fortis Bank provide efficient support to our activities.
Recent transactions :
Power Sector:
As Arranger/Underwriter :
Meizhou Wan Power Project: coal-fired electricity generating power plant with EPC contractors Bechtel-Foster Wheeler-Alstom.
As Co-Arranger :
Shandong Zhong Hua Power Project: EPC contractors SPECO-Mitsui Babcock.
As Underwriter :
Three Gorges Dam Project: hydroelectric project on the Yangtze River, designed to generate over 18,000 megawatts of electricity this is the largest hydroelectric project to be built.
Exporters : ABB, Alstom, Kvaerner and GE CANADA.
As Arranger :
ACEC Alstom/Gaotan Hydroelectric Power Plant: equipment supply.
Telecom Sector:
As Arranger of a USD 500 mio facility to finance supplies of telecommunication equipment to various local telecom administrations.
Utilities (Water) Sector:
As Arranger of the financing facilities for various drinking water projects, which were among the priorities of the Chinese Government .
Industry Sector :
Together with the Export Finance team of G-Bank Nederland, we have been Arranger of several facilities financing the export of Belgian and Dutch machinery for the textile industry.
General Purpose Line of Credit (GPL) :
This export finance product has proved to be quite effective both for exporters and Chinese Banks. Fortis Bank has signed its first GPL in China in 1979, so far 8 GPL have been signed with various Chinese Banks for a total amount of USD 350 mio.
