China's Bank of Communications Plans Expansion

Over the past three years, Chinese banks have increasingly expanded overseas, particularly into commodity-rich regions with strong trade ties to China, such as Latin America. Bocom, China's fifth-largest bank, is planning to expand into Brazil and Canada, starting with a representative office in Brazil. Bocom already has 54 international outlets, and its overseas income rose by 16% in the first half of the year. Other major Chinese banks, like ICBC and CCB, are also investing in Latin America, driven by rising domestic competition and demand for offshore financial services.

Which region is highlighted as a key area for Chinese banks' overseas expansion?

• Middle East

• Africa

• Europe

• Latin America

What is the primary reason for Bocom's overseas expansion?

• To focus on energy sectors

• To diversify into agriculture

• To explore new markets and meet growing demand

• To reduce domestic competition

As of June, how many overseas outlets did Bocom have?

• 45

• 54

• 60

• 72

Which Chinese bank acquired a majority stake in BIC Banco of Brazil?

• Agricultural Bank of China

• CCB

• ICBC

• Bank of China

What is a significant factor driving Chinese banks to expand overseas?

• Government mandates

• Decreasing domestic demand

• Rising domestic competition

• Lack of local opportunities