Westpac said yesterday that it planned two more branches in China "in the medium term". The bank received final approval to open a branch in Beijing from the China Banking Regulatory Commission, the bank's second branch in the country, and 29 years after it first opened a representative office in China.Westpac opened a branch in Shanghai in 2008.The bank generates only 0.6 per cent of revenue from outside its domestic markets of Australia and New Zealand, and most of this may reflect its operations in the Pacific islands, Europe and North America.