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Westpac Banking Corporation (ASX:WBC) is ramping up its presence in China, announcing that it has just opened a new branch in Beijing.
The latest branch is the bank’s second in China and its sixth office in the region aimed at servicing corporate and institutional customers.
Westpac says its Beijing branch will extend its geographical coverage to the north of the country.
The bank opened its first branch in Shanghai in 2008.
Yesterday Westpac confirmed that it has told 100 of its Australian employees that their jobs will be outsourced to Asia.
Westpac posted a net profit of $3.9 billion in the in the six months to 31 March 2011.
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