Bank of China to expand presence in US

Bank of China Ltd (BOC) may further expand its business presence in the US market by hiring more people and setting up a new sub-branch.

Xu Chen, US branch manager of Bank of China, said the bank will hire 100 new employees for its US businesses this year. The new employees will be mainly based in the West Coast.

Also, BOC is looking to set up a new sub-branch in Houston because of many Chinese petroleum companies operate businesses there.

The bank is reported to move its US headquarter to a 137-meter-high tower in Manhattan this autumn from its current location on the East Side of New York City.