BEIJING, Oct. 28 (Xinhua) -- Bank of China (BOC), one of the country's big four state-owned lenders, is scheduled to hold a forum on the internationalization of the Chinese currency renminbi (RMB) during the upcoming second China International Import Expo (CIIE).
The forum to be held on November 6 will focus mainly on the role of the RMB internationalization in serving construction of the free trade zones (FTZs).
In recent years, the BOC has actively promoted the RMB internationalization, especially after the Belt & Road Initiative (BRI) was proposed.
Data shows that in 2018, the amount of the cross-border RMB settlement handled by the BOC reached 5.95 trillion yuan, ranking first around the world by market share, and its cross-border RMB clearing transactions amounted to nearly 390 trillion yuan, allowing it to continuously lead the global market.
Over the past decade, the BOC has extended its presence worldwide and given full play to its advantages in the global outlets to boost the RMB internationalization.
The bank has established branches in 57 countries and regions. Among the overseas RMB clearing banks designated by the People's Bank of China (PBOC), China's central bank, the BOC has ranked first by the number of the RMB clearing banks.
It is learned that the BOC has served as a RMB clearing bank in 13 countries and regions including Germany, France, Australia, Malaysia, Hungary, South Africa, Zambia, the United States, Japan, and the Philippines. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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