Core Viewpoint - Dongguan Bank has officially opened its Hong Kong subsidiary, Dongguan Bank (International) Limited, making it the first city commercial bank in China to establish both a branch and a subsidiary in Hong Kong [1][5]. Summary by Sections Establishment and Licensing - Dongguan Bank's Hong Kong branch received its banking license in March 2021 and commenced operations in September 2021. The subsidiary, Dongguan Bank (International), was granted a banking license in October 2022 [2][4]. Historical Background - Dongguan Bank, originally established as Dongguan City Commercial Bank in 1999, was renamed in 2008. Its current asset size exceeds 677 billion yuan, positioning it among the top city commercial banks in Guangdong Province [4]. Strategic Development - The opening of the Hong Kong subsidiary is a significant step in Dongguan Bank's internationalization strategy, aimed at providing diversified financial services to local small and medium-sized enterprises and residents [5][4]. Regulatory Support - The Guangdong Provincial Government's measures to support Dongguan's innovation and development include backing the establishment of the Hong Kong subsidiary [4]. Leadership - The Guangdong Financial Regulatory Bureau approved the appointments of Li Qicong and Wei Xiangping as chairman and president of Dongguan Bank (International) in early August [6]. Industry Context - The move aligns with the broader trend of city commercial banks expanding internationally, supported by regulatory guidance from the former China Banking and Insurance Regulatory Commission [8]. Other city commercial banks, such as Xiamen International Bank and Shanghai Bank, have also established overseas operations [8][9].