BEIJING, Nov. 5, 2009 (Xinhua News Agency) -- China Construction Bank (OOTC:CICHY) (OOTC:CICHF) (Asia), a subsi diary of China Construction Bank (CCB), recently announced that AIG (NYSE:AIG) Fi nance (Hong Kong) has been renamed China Construction Bank (Asia) Fina nce (CCBAF) on November 2.

In August, CCB (Asia) signed an agreement to purchase AIG Finance ( Hong Kong) for 70 million US dollars, the transaction was completed in

late October.

A CCB insider said that the acquisition will bring more than 500,00 0 credit card customers and over 5 percent of Hong Kong's market share , thus increasing its competitiveness in the area around Hong Kong and

Macao.

Ma Zhiwen, executive chairman and CEO of CCB (Asia), remarked that the deal will help the bank provide improved services for retail busin ess and small and medium sized companies in the area.

The former AIG Finance (Hong Kong) mainly offered services such as credit cards, individual unsecured loans, and automobile loans.

The un-audited assets of the former AIG Finance (Hong Kong) amounte d to 1.25 billion Hong Kong dollars.