Announcing the formal launch of banking operations by SBI, India's largest commercial bank, in Shanghai, China's commercial hub, SBI chairman OP Bhatt said he was confident of operating in the huge Chinese market, which is opening up to foreign competition.

The SBI has become the first Indian bank to start commercial operations in China, and the bank is confident of tapping and aiding the booming trade and commercial linkages between India and China, Bhatt said at an impressive reception attended by senior Chinese business executives and the Indian business community in Shanghai.