SMFG actively promotes the development of its subsidiary in China. In April 2009, its subsidiary sumitomo mitsui banking corporation (SMBC) transformed its branch in China into a wholly foreign-owned corporate bank-sumitomo mitsui banking corporation (China) Co., Ltd., with its head office in Shanghai and five branches and two sub-branches. Sumitomo Mitsui Financial Leasing Co., Ltd. established Sumitomo Mitsui Financial Leasing (China) Co., Ltd. in Guangzhou, China to provide various equipment leasing services for enterprises. Sumitomo Mitsui Credit Card Company is cooperating with China UnionPay to promote UnionPay settlement business in Japan. Japan Research Institute, a subsidiary of the Group, participated in the "Sino-Singapore Tianjin Eco-city Project" in Tianjin Binhai New Area, and formulated a renewable energy utilization plan for Binhai New City.
Sumitomo Mitsui Marine Fire Insurance Company: Sumitomo Mitsui Marine Fire Insurance Company established in 19 1893 and Sumitomo Marine Fire Insurance Company established in 1893 were merged and established in 20010, headquartered in Tokyo, Japan, with total assets of 6,580.6 billion yen (about RMB) The largest property insurance group in the Asian market (excluding Japan) in 2005; Winner of "Best Insurance Company in 2004" selected by Asian Insurance Quarterly.