Mizuho Bank’s growing role in China’s financial sector
Mizuho Bank started supporting the development of China’s banking sector in 1979, years before it entered the market there. It held finance seminars that exposed participants — including Chinese government officials and managers of state-owned enterprises — to the nuances of international trade and finance. Its first branch office opened in Shenzhen in 1987 and today Mizuho Bank (China) has 1,600 employees in 16 offices and over $150 million in assets.
"Our strategic partnerships and collaborations with the Chinese government and local corporations have enabled us to succeed in China."
— TOYOKI OKA
Vice President and Chairman
Mizuho Bank (China)
“We are proud of our history here in China,” said Toyoki Oka, vice president and chairman of Mizuho Bank (China). “In addition to being the first Japanese bank to establish a branch office in China, we were one of the first foreign banks to obtain a license to facilitate renminbi (RMB) transactions, and also one of the first to be approved as a direct exchange market maker for RMB to yen.”
Mizuho Bank (China) focuses on corporate client deposits, loans and foreign exchange, as well as advisory and global transaction services.
“Our strategic partnerships and collaborations with the Chinese government and local corporations have enabled us to succeed in China,” said Oka. “2016 was our most successful year to date. Despite China’s slowing economy, we aim to grow in 2017.”
While China’s rapidly growing automotive, consumer products, e-commerce and retail sectors have been a focus for his bank, Oka also sees potential in other key industries of the future such as environmental protection, health care and industrial robotics.
“We actively support the Chinese government and Chinese companies through our bank’s overseas network in more than 100 countries,” Oka added. “We also have China desks in our branches in important financial centers such as London that work closely with our offices across China.”
Looking ahead, China’s “One Belt, One Road” initiative is expected to create opportunities within key sectors of the Chinese economy, particularly banking and finance.
“As more Chinese companies go global we will strengthen our overseas business activities and provide solutions to clients engaged in mergers and acquisitions and cross-border trade,” said Oka.
“Currently, our non-Japanese clients account for 60 percent of our total portfolio, while the remaining 40 percent are made up of Japanese clients,” he related. “As Mizuho Bank focuses on becoming one of the largest global financial services providers, Mizuho Bank (China) will play an increasingly key role in the Chinese financial sector.”