Australia-based ANZ Bank opened its seventh branch in China in Qingdao, Shandong province on Sept 21, according to investqd.qingdao.gov.cn.

ANZ China Qingao Branch, the 16th foreign banking outlet in Shinan district, will expand its business in Qingdao and the Bohai Bay further on.

It will provide clients various financial products and services, as well as impel the development of bilateral trade and investment, relying on its network in the Asia-Pacific area.

ANZ Bank's CEO Mike Smith said at the opening ceremony that both the Shandong province and Qingdao have been fostering long-term partnerships with Australia; therefore, bilateral trade and investment have strong growth potential.