OREANDA-NEWS  The Bank of Russia has approved the opening of two branches of Alfa-Bank in China, now the work is on the side of the Chinese regulator. This was stated by the chief managing director of the credit institution Vladimir Verkhoshinsky, speaking at the Made in Russia forum.

"We are now following the path of opening branches in China — in Shanghai as the business capital and Beijing as the political capital. Our Russian Central Bank has just approved the opening of these two branches for us, and for this, a special thank you to the Central Bank. And especially thank you that they approached this super non-bureaucratic, we saved three months of the planned procedure. So now the work is on the side of the Chinese regulator," he said.

Alfa-Bank reported in September that its board of directors had decided to establish two branches in China - in Beijing and in Shanghai. Earlier, the bank launched a service for working with China for importers and exporters.