Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Company

BOC to hold RMB internationalization forum during second CIIE

October 28, 2019


Abstract : 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).

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)

Scan the QR code and push it to your mobile phone

Keyword: BOC CIIE

Reading:

Feature: Argentine premium wines to debut at China import expo

Exhibits arrangement starts for 2nd China Int'l Import Expo

64 countries to have exhibitions in 2nd CIIE

China import expo to strengthen bilateral relations: Zambian expert

Country exhibitions of 2nd CIIE to be extended for eight days

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial