Bank of America's business growth in China is no less than 80% in the first quarter

Huang, China's chief executive of the bank, said Chinese companies ' contribution to the bank's revenue is greater than that of multinational companies "Caixin Net" (journalist Liu Wei), China's chief executive and head of corporate banking at Bank of America (hereinafter called BofA), said the bank's China business grew as high as 80% per 100% in the first quarter of this year. April 14, Huang at the Boao Forum for Asia 2011 Annual meeting, said to Caixin reporters, although this year's Bank of China's overall financial tightening, but the bank is not a way to go.　　In the case of BofA, the rate of return on capital can be increased through internal tapping, integration of business, optimizing balance sheet, and increasing cross-selling ability.　　Huang introduced that the bank's China business is mainly in three aspects, one is the service parent bank in China's multinational enterprises, the second is to serve local enterprises in China, the third is to help local enterprises to international, including the provision of loans, international cash management, financial derivatives and other business.　　Huang said that in the corporate banking sector, Chinese companies now contribute more to the bank's revenues than multinationals, and he believes the future share will widen further.　　He said that with the internationalisation of the renminbi, there would be more business on the renminbi, such as the development of renminbi bonds, equities and corresponding derivative products, which would have great business opportunities for both local and foreign banks. As for BofA's establishment of a corporate bank in China and the creation of additional branches, Huang said it was advancing steadily and believed there would be news in the near future.