Published on June 24, 2005

China has never been so “hot” for Thai banks.

Next Thursday, more than 60 passengers on Thai Airways International’s TG 614 flight from Bangkok to Beijing will be Thai reporters.

At least 40 of them will join a five-day trip around the Chinese capital organised by Bangkok Bank, the country’s largest, while the rest will tour the city for three days care of Siam Commercial Bank.

The answer to why the banks have scheduled events in Beijing at the same time is Prime Minister Thaksin Shinawatra’s trip there to commemorate 30 years of Sino-Thai relations on July 1.

Bangkok Bank will hold a ceremony on July 1 to upgrade its representative office in Beijing to a fully fledged branch, while Siam Commercial Bank will hold a contract-signing ceremony with China Exim Bank.

Chatri Sophonpanich, chairman of Bangkok Bank, will head his bank’s ceremony, while Vichit Suraphongchai, executive chairman of Siam Commercial Bank, will head his bank’s event.

The dual formalities have left Thaksin looking at a tight schedule. He has committed to chairing Siam Commercial Bank’s signing ceremony at 11am, after which he will rush across town to Bangkok Bank’s public relations event at 2.40pm.

Later, all 60 reporters are expected to visit the Great Wall of China and tour Beijing.

It is not only Beijing that is hot for Thai banks. Kasikornbank, the country’s third-largest bank, visited China’s Sichuan province between June 16 and 19. Several dozen reporters were invited on that trip, which included excursions to check out the province’s natural beauty. Some said it was even more beautiful than what they have seen in Switzerland.

The bank’s chief executive, Banthoon Lamsam, has visited China every month over the past three years looking for business and promised to extend loans to small and medium-sized businesses there over the next three years.

If this keeps up, the airlines will have to set up a whole new class for all the reporters being shuttled by banks to publicity events in China.

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