At a ceremony attended by the British Ambassador and representatives from the Scottish Executive, Standard Life opened the first branch of its Heng An Standard Life joint venture in Beijing.

The firm said that the opening of the branch, a part of a joint venture with government owned TEDA Investment Holding Company, was a further step in its expansion plans into Asia.

The chief executive of Standard Life, Sandy Crombie, commented that, today’s ceremony marks another step in our Chinese expansion programme. In conjunction with our joint venture partner, Heng An Standard Life now has access to Tianjin, Qingdao and Beijing, three of China’s fastest growing cities. We hope to build on this in the future and I am confident our new branch will help support our growth plans.