chinese bank applies for license in britain
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Chinese bank applies for license in Britain

Arab Today, arab today

Arab Today, arab today Chinese bank applies for license in Britain

Beijing - XINHUA

The Agricultural Bank of China is applying for a branch banking license in Britain, said a bank official Monday. "Europe is one of the vital markets of the bank's global strategy," Guo Youda, the bank's executive vice president in London, told a forum. Through its subsidiary in London, the bank rolled out "zero time difference" cross-border Chinese currency clearing services for its European clients in December 2013, said Guo. The bank hopes to be deeply involved in the development of London's offshore renminbi market in order to provide better financial services in the process of economic and trade cooperation between China and Britain, he said. In 2013, the bank settled cross-border trade of 1.1 trillion yuan. It also provides Qualified Foreign Institutional Investor custody services and conducts investments in the Chinese inter-bank bond market on behalf of its clients. At the moment, Chinese banks have subsidiaries in Britain but no full-fledged branches. British Chancellor of the Exchequer George Osborne pledged in Beijing last October that his country would ease restrictions on the establishment of branches by Chinese banks in Britain. Osborne said in Hong Kong last month that the British and Chinese governments are "in active discussions" about setting up a clearing bank in London for China's currency. With support by both governments, London stands out as a leading global renminbi trading hub. In June 2013, China and Britain entered into a currency swap agreement. Last October, China said it would allow London-based investors to buy yuan-denominated shares, bonds and money-market instruments in China

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese bank applies for license in britain chinese bank applies for license in britain

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese bank applies for license in britain chinese bank applies for license in britain

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday