Bank of China celebrates 25 years' service in Zambia

LUSAKA, Nov. 26 (Xinhua) -- The Bank of China Zambia Ltd. celebrated its 25 years of banking services in Zambia as a bridge facilitating the ever-growing economic and trade exchanges between the two countries.

During the celebration event held on Friday, the bank's managing director Wang Qi said the bank is proud of its 25-year service in Zambia and pledged that the bank will continue to provide strong and ardent support to the country's economic development.

Highlighting some of the bank's achievements in the past 25 years, Wang said the bank has provided a total of 3 billion U.S. dollars in financial support to the country's development.

According to him, more than 60 Zambian companies have established business collaborations with their Chinese partners while in the last two years the bank organized more than 40 Zambian companies to participate in the China International Import Expo.

The bank will spare no efforts to market Zambia to China and the world not only as an investment choice but also as a tourist and holiday destination, he added.

Chinese Ambassador to Zambia Du Xiaohui said the birth and growth of the bank in Zambia is a vivid example of how China has developed its ties with Africa and facilitated cooperation with developing countries.

"The fact that a Chinese financial institution has taken root, grown and thrived in Zambia shows that the Chinese government and Chinese financial institutions have been bullish on Zambia's good business environment and broad development opportunities," he said.

Bank of Zambia Deputy Governor in charge of Operations Francis Chipimo commended the bank over its role in promoting economic development in the country.

Zambia's Finance and National Planning Minister Situmbeko Musokotwane said the Zambian government will do everything possible to ensure that the relationship with China gets stronger.

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