According to the news from Yonhap News Agency recently, Shinhan Bank, Korea Exchange Bank and Industrial Bank of Korea, following Woori Bank and HANA Bank, prepared to set up subsidiary banks with corporate status in China in succession and develop China’s financial market actively. Shinhan Bank scheduled to integrate its five outlets including four branches in Beijing, Shanghai, Tianjin and Qiangdao as well as the sub-branch in Binhai of Tianjin into its subsidiary bank and launch RMB and credit card businesses. Korea Exchange Bank has founded Korea Exchange Bank China Co., Ltd in Tianjin and scheduled to increase its branches to 65 by 2013, mainly focusing on personal banking for Chinese.