The Bank of China will open a branch in Angola in the second half of this year, “to support trade and facilitate Chinese investment,” said on Wednesday in Luanda the chairman of the Angola-China Chamber of Commerce and Industry, Xu Ning, speaking to financial news agency Bloomberg.

The bank was authorised to open a branch in Angola in May 2016 under a presidential dispatch, and will operate in the country under the name Banco da China – Sucursal em Angola.

In December 2012, the Bank of China announced it had been authorised by the government of Angola to open a representative office in the capital Luanda, “the first Chinese-owned bank approved by the National Bank of Angola.” (macauhub)