BEIJING: Seeking to cash in on the burgeoning India-China bilateral trade ties, Union Bank of IndiaBSE -2.49 % (UBI) has sought permission from the Chinese government to upgrade its Shanghai representative office to a full fledged branch.
Currently, the UBI has its Representative offices in Shanghai and Beijing and permission has been sought to upgrade the Shanghai office into a full-fledged branch.
UBI had opened Shanghai office in 2007 and looks to convert it into a branch, as it has already completed the two year mandatory period required to open a branch in China, UBI sources told PTI here.
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