Bank of East Asia targets wealth management and fintech in Greater Bay Area from newly opened Qianhai tower

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The 18-storey BEA Tower, built at a cost of US$196 million, houses the bank’s Qianhai branch, fintech innovation centre and data lab

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Bank of East Asia executive chairman David Li dots the eye of a lion before the ceremonial lion dance at the inauguration of the BEA Tower in Qianhai, Shenzhen, on Friday. Photo: Enoch Yiu

Enoch Yiu

Published: 8:00pm, 12 Jan 2024

Bank of East Asia (BEA), Hong Kong’s oldest family-run bank, on Friday officially opened its 18-storey BEA Tower in the Qianhai special economic zone in Shenzhen, as part of its push in the Greater Bay Area targeting wealth management and fintech.

“The official inauguration of BEA Tower represents a milestone for our business development in the region,” Adrian Li Man-kiu, BEA’s co-CEO, said at an inauguration ceremony for the tower located in the heart of Qianhai.

“This building will serve as our strategic hub for the Greater Bay Area, facilitating closer collaboration between members of the BEA group and enabling us to provide more seamless cross-boundary services to our customers.”

The 105-year-old bank has invested 1.4 billion yuan (US$196 million) to develop the grade A building, which will serve as its southern China headquarters. BEA’s mainland headquarters is in Shanghai.

The BEA Tower is located in the Qianhai special economic zone in Shenzhen. Photo: Enoch Yiu

Mainland Chinese regulators in the last couple of years have unveiled dozens of measures to develop the Greater Bay Area, including promoting the banking and services industry in the Qianhai financial area, opening up opportunities for businesses from Hong Kong.