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BOC opens Shanghai yuan trading headquarters
By Louise Ho |
March 20, 2012, Tuesday
|
Online Edition
Online Edition
THE Bank of China officially opened its yuan trading headquarters in Shanghai today to support the city's goal to be a world financial hub.
"The inauguration of Bank of China's yuan trading headquarters has a strategic importance of promoting Shanghai as a global center in renminbi trading and clearing," said Shanghai Major Han Zheng at the opening ceremony today.
Xiao Gang, director of Bank of China, said setting up the yuan trading headquarters is an important step in its self-restructuring and cross-border development.
Approved by the China Banking Regulatory Commission, the yuan trading headquarters offer trading in renminbi bonds, currency market and precious metals, as well as financial services.
The Bank of China is the first big four state-owned banks to open its second headquarters in a city outside Beijing.
"The inauguration of Bank of China's yuan trading headquarters has a strategic importance of promoting Shanghai as a global center in renminbi trading and clearing," said Shanghai Major Han Zheng at the opening ceremony today.
Xiao Gang, director of Bank of China, said setting up the yuan trading headquarters is an important step in its self-restructuring and cross-border development.
Approved by the China Banking Regulatory Commission, the yuan trading headquarters offer trading in renminbi bonds, currency market and precious metals, as well as financial services.
The Bank of China is the first big four state-owned banks to open its second headquarters in a city outside Beijing.
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