Credit Agricole, the second-largest listed bank in France, has launched a new unit named Credit Agricole (Beijing) Advisory Services to enhance its investment banking operations in China. The new unit, headed by Huai Yang, will focus on cross-border mergers and acquisitions including purchases, disposals, and capital raising. The unit commenced operations on March 10 under the supervision of Jean-François Deroche, the bank’s senior regional officer for Asia-Pacific. According to Deroche, this new strategic setup will enable the bank to connect local and international clients to investment opportunities, inbound and outbound, presented by the world’s second-largest economy. Previously, the bank served its Chinese advisory clients from its offshore base. Several global banks, including Standard Chartered, JPMorgan, and Morgan Stanley, are ramping up their expansion in China, having been granted major licences by the government earlier this year.