Related News
BOC Paris named yuan clearing bank
Print Edition
CHINA’S central bank has appointed the Paris branch of the Bank of China as a yuan clearing bank as efforts continue to promote international use of the yuan.
Financial institutions in Paris will be able to access yuan liquidity without using representative banks usually in Hong Kong, potentially saving them time and costs in settling a deal.
The move will encourage financial institutions and companies in the two countries to settle cross-border deals in the yuan, and facilitating bilateral trade and investment under a yuan clearing agreement made in June, the People’s Bank of China said in a statement on its official website yesterday.
BOC said in a statement that it will start offering clearing services as soon as regulatory procedures are completed.
It is the third time BOC has been appointed as a yuan clearing bank in Europe this year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
