China's Bank of Communications said Wednesday that its branch in San Francisco has opened for business.

The branch is the bank's second in the U.S., following the New York branch established in 1991.

By providing financial services to China-related businesses in the U.S., the branch will help to boost economic and trading cooperation between the two countries, said the bank's chairman Hu Huaibang.

So far, Bank of Communications has 10 overseas branches in operation. Its branch in Sydney is set to open on Nov. 28.

Source:china.org