BEA Marks the Inauguration of BEA Tower in Qianhai

BEA Tower signifies the Bank’s dedication to supporting the development of the GBA

HONG KONG, Jan. 12, 2024 /PRNewswire/ — The Bank of East Asia, Limited (“BEA” or the “Bank”) today celebrated the inauguration of BEA Tower in Qianhai, its strategic hub in the Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”).  The occasion coincides with the Bank’s 105^th anniversary, marking a significant milestone in BEA’s century-long development on the Chinese Mainland and its dedication to the GBA’s development.

BEA Tower is located in the Qianhai Shenzhen-Hong Kong Cooperation Zone. The inauguration was officiated by Mr. Paul Chan Mo-po, Financial Secretary of the Government of the Hong Kong Special Administrative Region (“HKSAR”); Mr. Wang Qiang, Member of the Standing Committee of the Shenzhen Municipal Committee of the Communist Party of China (“CPC”), Director-General of the United Front Work Department of the Shenzhen Municipal Committee of the CPC; Mr. Lv Feng, Deputy Director-General of the Economic Affairs Department of the Liaison Office of the Central People’s Government in the HKSAR; Dr. Tong Shi-qing, Deputy Director General of the Guangdong Financial Supervisory Authority; Mr. Arthur Yuen, Deputy Chief Executive, Hong Kong Monetary Authority; Mr. Kuok Khoon-hua, Chairman and Chief Executive Officer of Kerry Properties Limited, the Bank’s joint-venture partner for the development of BEA Tower; Dr. David Li, Executive Chairman of BEA; Professor Arthur Li, Deputy Chairman of BEA; and Mr. Adrian Li and Mr. Brian Li, Co-Chief Executives of BEA. Also joining the inauguration were the board of directors and executives of the Bank and Bank of East Asia (China) Limited (“BEA China”), and officials of Qianhai Authority and other Chinese Mainland government bodies.

In a pre-recorded video message, Mr. John KC Lee, Chief Executive of the HKSAR, said, “The HKSAR Government attaches great importance to strengthening and leveraging Hong Kong’s competitive edge in financial services.  Hong Kong’s internationalised market, product offerings and talent pool can make proactive contributions to the financial liberalisation and innovation of the GBA not only in such established sectors as securities, banking, insurance, and asset management, but also in the emerging fields of green finance and fintech. I encourage BEA to capitalise on the immense opportunities presented by the development of Qianhai to continue to play an active role in the development of the GBA and contribute to our nation’s high-standard opening up as a home-grown Hong Kong business.”

Mr. Paul Chan Mo-po, Financial Secretary of the HKSAR Government, said, “Qianhai is a major cooperation platform for the Guangdong-Hong Kong-Macao Greater Bay Area, holding a frontier position for national reform and opening up. It is an important national initiative to support Hong Kong’s economic and social development, enhance the level of cooperation between Guangdong, Hong Kong, and Macao, and construct a new layout of opening up. In this new era and journey of China’s modernisation for building a strong nation, Guangdong, Hong Kong, and Macao are strengthening their co-development and speeding up the formation of a new system for good-quality, highly efficient modern service industry.

Mr. Wang Qiang, Member of the Standing Committee of the Shenzhen Municipal Committee of the CPC, said, “This year marks the 75^th anniversary of the founding of the People’s Republic of China, and is also a crucial year for achieving the objectives and initiatives outlined in the 14^th Five-Year Plan.  Shenzhen will focus on driving economic development and high-quality growth to spur the creation of an economic hub with greater global influence and a modern international metropolis.  We hope BEA will continue to play an increasing role in the economic and social development of Shenzhen, fully leveraging the synergies of cross-boundary collaboration.”

Mr. Adrian Li, Co-Chief Executive of BEA, commented, “The official inauguration of BEA Tower represents a milestone for our business development in the region. This building will serve as our strategic hub for the GBA, facilitating closer collaboration between members of the BEA Group and enabling us to provide more seamless cross-boundary services to our customers.”

Mr. Brian Li, Co-Chief Executive of BEA, said, “BEA has always been a supporter of the continuous development of Qianhai. Among our key business segments in the GBA, we have established our presence in securities, investment, asset management, and fintech in Qianhai. BEA Tower demonstrates our unwavering confidence in the prospects of the economy and business in the Chinese Mainland.”

BEA Tower has 18 floors and 5 underground levels. It houses BEA China’s flagship Shenzhen Branch, a fintech innovation centre cum startup collaboration platform – BEAST (which stands for BEA + Startups), a Data Lab and other BEA subsidiaries.

With a recognised presence across all 9 GBA cities in the Mainland, BEA offers a comprehensive range of cross-boundary banking services by leveraging its onshore and offshore platforms to meet the needs of personal and corporate customers.

In addition, BEA is committed to advancing innovation and supporting a vibrant fintech ecosystem in the region. BEAST, BEA’s fintech platform that was first established in Hong Kong in September 2022, has expanded its reach to Qianhai. Launched in October 2023, Qianhai BEAST enables the Bank to connect with the wealth of talent and expertise in Shenzhen’s thriving fintech community. BEAST Qianhai benefits BEA and its customers with co-created solutions, while also facilitating broader regional collaboration.

BEA continues to strengthen its capabilities with innovative solutions. Its refreshed brand identity reflects the sustainable, digital-led and customer-centric bank that BEA is today and its commitment to empowering its customers to manage their financial well-being.

About The Bank of East Asia, Limited

Incorporated in 1918, The Bank of East Asia, Limited (“BEA”) is a leading Hong Kong– based financial services group listed on The Stock Exchange of Hong Kong, with total consolidated assets of HK$872.1 billion (US$111.3 billion) as of 30^th June, 2023.

BEA provides a comprehensive range of corporate banking, personal banking, wealth management, and investment services to customers through an extensive network of about 150 outlets covering Hong Kong, the rest of Greater China, Southeast Asia, the United Kingdom, and the United States. For more information, please visit www.hkbea.com.

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