Banks to cooperate
By Hu Xiaocen |
April 4, 2013, Thursday
|
Print Edition
Print Edition
HSBC has deepened cooperation with the Bank of Communications to tap the growing cross-border yuan settlement, the London-based lender said.
The two banks signed a memorandum of understanding to cooperate on cross-border yuan trade, including trade finance, remittance, lending, offshore investment and finance, asset custody and fund management, retail banking, cash management and capital markets, HSBC said in a statement yesterday.
The globalization of the yuan has pushed commercial lenders to offer more products and services to ride on the currency's rise.
HSBC, the biggest European bank, holds 19.03 percent stake in China's fifth-biggest lender BoCom.
The two banks signed a memorandum of understanding to cooperate on cross-border yuan trade, including trade finance, remittance, lending, offshore investment and finance, asset custody and fund management, retail banking, cash management and capital markets, HSBC said in a statement yesterday.
The globalization of the yuan has pushed commercial lenders to offer more products and services to ride on the currency's rise.
HSBC, the biggest European bank, holds 19.03 percent stake in China's fifth-biggest lender BoCom.
- 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.
