(WEB HOST INDUSTRY REVIEW) — Financial institution Bank of East Asia (www.hkbea.com) announced on Monday that its mainland subsidiary Bank of East Asia (China) has opened a $29.3 million (RMB 200 million) data center in Shanghai, according to a report by China Knowledge.
The data center marks the first one established by a foreign bank on the mainland.
The facility is located in Shanghai Financial Information Service Industrial Park, which is home to the data centers of many domestic lenders.
BEA China vice chairman Chan Kay-cheung said that the data center is designed to help the bank expand its presence in mainland China by keeping track of data for an increasing number of customers.
The Hong Kong-listed bank has yet to decide whether it will list the BEA Group or BEA China on Shanghai’s international board.
In December, BEA said it plans to issue 167.1 million new shares through a private placement to raise $660 million (HK$5.11 billion).
The bank will use these earnings to increase its capital base, according to an earlier report from China Knowledge.
