STORY: DBS Bank optimistic about China's growth prospects: senior executive
SHOOTING TIME: Recent footage
DATELINE: Nov. 11, 2024
LENGTH: 00:01:56
LOCATION: Beijing
CATEGORY: ECONOMY

SHOTLIST:
1. various of DBS Bank
2. SOUNDBITE 1 (English): SOON CHONG LIM, Group head of Global Transaction Services (GTS) at DBS Bank
3. SOUNDBITE 2 (English): SOON CHONG LIM, Group head of Global Transaction Services (GTS) at DBS Bank

STORYLINE:

DBS Group, Singapore's major bank, has been optimistic about China's growth as it continues to expand its presence in the Chinese market.

Soon Chong Lim, Group head of Global Transaction Services (GTS) at DBS Bank, spoke to Xinhua in a recent interview

SOUNDBITE 1 (English): SOON CHONG LIM, Group head of Global Transaction Services (GTS) at DBS Bank
"DBS remains very optimistic about the growth prospects of China. We are continuing to invest, along what we have tried to do in DBS China Limited, in corporate and consumer banking as well as in our markets and securities businesses. Besides DBS China, we intend to increase our stake in DBS China Securities. And we have recently also increased our stake in Shenzhen Rural Commercial Bank. More recently, we have also decided to open up a Guangzhou Technology Center. And so we have multiple growth platforms, leveraging the talent and the economic opportunity of China for DBS."

Lim also noted that DBS benefits as China steadily promotes institutional opening up of its financial market and financial service sector.

SOUNDBITE 2 (English): SOON CHONG LIM, Group head of Global Transaction Services (GTS) at DBS Bank
"DBS benefits from China's financial liberalization and opening up in multiple ways. First, the financial liberalization and opening up had a significant positive effect on Chinese growth and Chinese integration with the rest of ASEAN, where DBS is active in. And DBS has sought to capitalize on these trends through our participation in CIPS (Cross-Border Interbank Payment System), capturing more of the cross-border trade and financing opportunities of Chinese corporations. In addition, as China opens up its financial sector and liberalizes its capital account, DBS's wealth management sector has also grown dramatically, helping Chinese customers rebalance their investment portfolios and assets.
I think China's long-term economic prospects remain very bright. "

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)