MUFG cashes in on China windfall

MUFG China is hitting a "sweet spot" as Chinese companies accelerate to expand their footprint in the Asian market amid escalated geopolitical uncertainties, making China-related business increasingly important to the Japanese banking group's layout in the region, executives said.

Also providing opportunities for the bank, they said, is the recovering confidence of multinational corporations and global institutional investors in the Chinese market, which is underpinned by China's progress in economic restructuring and attractive asset valuations.

Benjamin Lam, deputy president of MUFG Bank (China), a subsidiary of Japanese global financial services group Mitsubishi UFJ Financial Group, said that it should be "an inevitable fact" that China-related business will become even more significant in MUFG's Asia strategy as Chinese companies venture into new markets in the region.