Malaysia's biggest bank, Maybank, announced plans to expand services in China after it recently won approval to offer renminbi loans to foreign customers. The bank said it was planning a major expansion of its services in the coming five years and was optimistic it would gain a resident bank license, enabling it to offer loans to Chinese customers, in the near future. The announcement came ahead of a five-day visit to China by the Malaysian prime minister. Last year bilateral trade between Malaysia and China stood at US$20.1 billion, more than double the level in 2000.
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