The Bank of Communications now says it will broaden its wholesale services in the United States to include deposit-taking, lending and trade financing.
The Federal Reserve Board has now approved the bank's application to establish a branch in San Francisco.
As a limited branch, it's deposits would be restricted to a select number of depositors.
Outside China, the Bank of Communications operates branches in Japan, Singapore, South Korea, and Germany.
It also has a representative office in Britain and a federal branch in New York.
