CITIC Bank Mulls Shanghai Expansion.

(From SinoCast China Financial Watch)

SHANGHAI, November 10,. 9, SinoCast -- CITIC Industrial Bank, a subsidiary of state-owned CITIC Group, is to launch large-scale expansion in Shanghai which is growing to China's financial hub. CITIC Industrial Bank is taking into account opening a regional headquarters in Shanghai with more aggregation of financial resources, said one source close to the bank. It weighs on the Shanghai branch which has made breakthroughs in retail banking business on sales of money management products. The branch added individual deposits totaling CNY 1.5 billion in the first half of 2005, equivalent to the planned full-year increment. Under a …