Standard Chartered PLC : Africa-China links promoted as Standard Chartered takes African chairmen to Beijing

Africa-China links promoted as Standard Chartered takes African chairmen to Beijing

Building on the Bank's long history and strong presence on both sides of the rapidly expanding China-Africa trade and investment corridor, Standard Chartered will this year be hosting 12 Africa chairmen in Beijing for the Bank's Annual Africa Chairmen's Conference. The motivation behind choosing Beijing for this year's location is in line with Standard Chartered's commitment to use its unique global footprint to support, promote and grow economically enhancing trade and investment corridors between these two regions.

While in China, Standard Chartered will provide the Africa chairmen with insight into China's strides in economic development, the Bank's Chinese expansion strategy as well as facilitate strategic introductions with relevant and influential government, industry and private sector leaders across China. The Bank's Africa delegation will also participate in China's '4th Conference of African and Chinese Entrepreneurs' during the 'Forum on China-Africa Cooperation' (FOCAC) in Beijing. The Bank's delegation is not limited to Beijing, but will be participating in various onward visits to cities such as Changsha, Zhengzhou and Chengdu before returning to Africa.

Diana Layfield, Chief Executive Officer for Africa, commented, "Africa-China trade has risen tenfold in less than a decade. Looking forward, Africa will have 1.1 billion people of working age by 2040 - expected to be the largest working population world-wide, and representing a very attractive consumer base for expanding companies to tap into for the future. Standard Chartered has the history, the presence and the expertise to make a tangible difference in supporting this rapidly increasing channel of economic growth. Our decision to host our Africa chairmen in China this year is simply another unique way we are using our presence and capabilities to create lasting relationships which stand to deliver economic benefit well into the future."

Lim Cheng Teck, Executive Vice Chairman and CEO of Standard Chartered China added, "The trade and investment linkages between China and Africa are significant. Standard Chartered has a very established presence in these markets and we are well positioned to serve clients and customers that trade and invest between these markets.  We are delighted to host the African chairmen in China - yet another demonstration of the importance we place on the linkages between China and Africa."

Standard Chartered is the oldest foreign bank in China, opening its first branch in Shanghai 154 years ago - 4 years before the Bank opened its first branch in Africa. Today the Bank boasts 87 outlets across China with 7,000 staff. In Africa, the Bank has a presence in 16 markets, supported by more than 7,000 staff. Given its strategic positioning, Standard Chartered has channeled valuable investment between Africa and China by supporting a numerous investments and trade relationships between the two regions. Key transactions include the Bank's partnership with the expansion of leading Chinese brands in Africa, including Huawei and ZTE, as well as facilitating China Investment Corporation's (CIC) first and milestone investment into Africa - one of the world's biggest sovereign wealth funds.  As exclusive financial advisor, Standard Chartered facilitated CIC's acquisition of a 25.8% equity stake into South Africa's Shanduka Group (Dec 2011). These strategic partnerships not only pave the way for additional investment, but also set a positive example for other potential investors to follow.

The delegation will be in China from the 16 to the 20 July 2012.

For further information please contact:
Lauren Callie
Head of Business Communications for Africa
Email: [e-mail]
Mobile: [phone] (Johannesburg, South Africa)

Note to Editors: Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered is a leading international banking group. It has operated for over 150 years in some of the world's most dynamic markets and earns more than 90 per cent of its profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India.

With 1,700 offices in 70 markets, the Group offers exciting and challenging international career opportunities for nearly 87,000 staff. It is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. Standard Chartered's heritage and values are expressed in its brand promise, 'Here for good'.

Standard Chartered has operated in Africa for over 150 years and the region remains a core part of the Bank's Group Strategic Intent. Standard Chartered Bank has over 160 branches in 16 African countries and over 7,000 staff. Standard Chartered Africa is a highly respected, well established "household name", with deep-rooted local knowledge and experience. The Bank also has a unique international footprint which enables it to facilitate the growth of international trade corridors between Africa and the rest of the world. With a world-class suite of products, services, distribution channels and systems, the Bank provides customers with increasingly sophisticated and pioneering banking services - unrivalled in Africa.

In China, the Bank set up its first branch in Shanghai in 1858 and has remained in operation throughout the past 154 years. Standard Chartered Bank (China) Limited is one of the first foreign banks to locally incorporate in China in April 2007. This demonstrates the Bank's commitment to the China market, and its leading position as a foreign bank in the banking industry. Standard Chartered has one of the largest foreign bank networks in China - with 21 branches, 65 sub-branches and 1 Village Bank. Approvals for the setting up of the Changsha branch have been granted and preparations are in progress.

In 2011, Standard Chartered China received many awards and honors, including "Best Public Welfare and Charity Contribution Award for Year 2011" and "Best Practice of Social Responsibility Award for Year 2011" from China Banking Association, "Outstanding Contribution Award" from China Bank Association Foreign Bank Working Committee, "CSR Award 2011" from China Business News, "Best Case Study Award 2011" from 21st Century Business Herald, "Best RMB Cross-Border Settlement Bank" from Sinotf.com and Trade Finance, "Prominent Competence Bank on SME Service Award" from China Business and "2011 Most Respected Bank & Best Retail Bank Award" from Money Week.