Chinese brands “fever” to expand internationally seems to have not spared the banking sector. China Merchant Bank has opened a branch at 535 Madison Avenue, New York – the first branch opened by a Chinese bank in USA since the adoption of the Foreign Bank Supervision Enhancement Act of 1991.

The new branch was a welcomed addition in terms of banking choices by Chinese business in US. In fact, first clients were China Ocean Shipping Company Americas, Inc. and China International Marine Containers, already clients of CMB in China.

Weihua Ma, president & CEO of CMB, was heard to say that "the opening of CMB New York Branch marks a new breakthrough for Chinese banks gaining access to U.S. financial markets…It is yet another milestone of CMB's internationalization. “

Certainly it was a milestones signaling how Chinese brands are set to conquer foreign markets. By opening up in New York in the midst of a financial crisis that sees the US at its very center, CMB showed a precise intention to brand itself to both Chinese and local business needing trade services, trade finance, dollar clearing, and commercial credit.