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Investors from the Republic of Korea (ROK) eyes the development potential in northeast China provinces and plan to offer comprehensive financial services for the region, according to the state development bank of ROK.

 

Jin Meizi, an associate researcher from Heilongjiang Provincial Academy of Social Sciences said that northeast China's vast economic growth potential has arrested the attention of a growing number of investors from the ROK in recent years.

 

Right after her return from the ROK as a visiting scholar, the researcher told Xinhua that ROK's industrial bank have incorporated offering financial services to northeast China into its strategic plan for the period of 2006-2010.

 

"As the state development bank of ROK, the industrial bank has an asset of about 92 trillion KRW (some US$90.5 billion). It is the sole policy bank in ROK and the largest one to offer corporate financial services in the country." said Jin.

 

The bank have acquired much experience in the reform and restructuring of state owned enterprises and it has developed a keen interest in participating in the economic reform of northeast China, said an official with the bank's research center of northeast Asia.

 

With its effective presence in this region, the bank intends to further expand its business in China. So far, it has set up four offices in China, respectively in the national capital Beijing, Shanghai municipality in east China, Guangzhou in the south and Shenyang in northeastern Liaoning Province.

 

(Xinhua News Agency December 27, 2005)