The Royal Bank of Scotland is planning to rev up its focus on the Chinese market after receiving a derivatives license in recent weeks. "We've been very optimistic on business in China for a long time and expect that this market will continue to expand," said Anthony Yuen, managing director and Asia Pacific regional head in Hong Kong.
RBS recently obtained a non-renminbi derivatives license for China following market reforms earlier this year (DW, 2/2). Yuen added RBS is in the process of establishing systems and procedures and will shortly begin its marketing effort for derivative deals via its Hong Kong team. He continued the firm will likely expand its marketing team next year to tap the growing potential in China.
Onshore, RBS has a representative office in Beijing and opened a banking branch in Shanghai last year (DW, 5/19/03).
