A private banking services division of the Bank of China will open on December 18 in Dalian, a coastal city in Liaoning Province. The subsection is the first of its kind to open in the northeastern Chinese provinces of Liaoning, Jilin and Heilongjiang.

The local newspaper the 'Dalian Evening News' reported that the private banking services wing of the Bank of China is aimed at high-end clients with net assets of over US$1 million.

Located on the 16th floor of the Bank of China Building in Zhongshan Square, Dalian's central business zone, the sub-bank is the most luxuriously decorated of the three private banking services divisions run by the Bank of China.

The private banking services division has the look of a clubhouse, with round glass walls providing clients with an excellent sea view and even a British-style cigar room in the lounge.

The sub bank also has a reading room, an internet café, a multimedia room and a billiard room.

Financial experts will serve clients in ways going far beyond giving customers suggestions on how to manage their money and assets. Managing trusts and auctions, as well as finding tax breaks, are all services available in the financial services division.

The financial services bank has also prepared educational programs for clients' children.

The special bank is vigilant in maintaining clients' privacy. When managers discuss business issues with clients in the meeting room, they can turn the transparent glass wall opaque with the push of a button, ensuring a completely private space for their clients.

The private banking services division is confident that its difficult qualifications will prevent a bottle neck for its services. "Many millionaires in northeastern China choose Dalian to operate their businesses, and the city will surely provide enough clients for us," said a manager of the private financial services division.

(Xinhua News Agency December 15,2007)