BEA's data center signals channel for expansion
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Bank of East Asia became the first overseas bank to set up a 200 million yuan (US$29.3 million) data center in Shanghai.
The data center is located in the Shanghai Financial Information Service Industrial Park, which is already home to the data centers of many domestic banks.
"The data center is part of our bank's strategy on the mainland," said Chan Kay-cheung, vice chairman of Bank of East Asia (China) Ltd. "It helps us to have access to independent client information."
The data center also paves the way for BEA's expansion on the mainland to support its network and a rise in clients.
The Hong Kong bank is also keen to be listed in Shanghai on the international board for overseas companies which the city government is planning. But Chan said the bank hasn't decided whether to list the BEA Group or BEA China in Shanghai.
BEA, which is choosing the site of its disaster back-up center in Shanghai that is to be finished in the first half of 2010, operates 73 outlets on the mainland.
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