Sumitomo Mitsui Trust Bank sets up consulting unit in China

02, Mar. 2021

Photo by Li Yang on Unsplash
Photo by Li Yang on Unsplash

TOKYO, NNA - Sumitomo Mitsui Trust Bank has formed a wholly owned subsidiary in Beijing to provide a wider range of consulting services to customers, mainly Japanese companies operating in China.

Sumitomo Mitsui Trust Bank said Monday that SuMi TRUST Consulting (Beijing) Co. began operations the same day with the aim of meeting diverse customer needs by enhancing research capabilities in the Chinese market for the Tokyo-based bank.

A Shanghai branch and a representative office in Beijing had earlier engaged in the bulk of activities in China for the bank, which operates under the wing of Sumitomo Mitsui Trust Holdings Inc.

The banking group hopes the new subsidiary will help beef up its local economic and social networks to better serve clients and assist Japanese firms in China to find business opportunities. (NNA/Kyodo)