ANZ grows China hub
ANZ expects its new operations hub in Chengdu, China, to employ around 1000 staff in the next few years, up from 220 now.The bank disclosed the target in an announcement on the establishment of the new branch in Chengdu, which is the capital of Sichuan Province in southwest China. ANZ maintains similar hubs in Bangalore and Manila.The Chengdu branch will be ANZ's sixth in China, joining the ANZ China branches in Beijing, Shanghai, Guangzhou, Chongqing, Hangzhou.Chengdu has been a beneficiary of China's 12th Five Year Plan (ending next year), which has seen the centrally planned economy turn the city into the country's largest banking back office services centre. So far, more than a dozen major domestic and regional banks, including OCBC, Bank of East Asia, HSBC, Citibank, Standard Chartered, ABN AMRO and UOB have set up operations there.