"As The People's Bank of China (BOC) has announced that Bank of China New York branch as the first Renminbi (RMB) clearing bank in the United States, BOC is now introducing more RMB products and offering more RMB services to US investors." Xu Haifeng, Executive VP of Bank of China USA told Xinhua Sunday.
Interim reports of 16 A-shares listed Chinese banks posted slight profit growth, thanks to their overseas business offsetting the impact of the slowing-domestic economy.
Hong Kong Exchange and Clearing Limited(HKEx), The London Metal Exchange(LME) and Bank of China Limited(BOC) signed a memorandum of understanding(MOU) on cooperation and the exchange of information regarding the clearing of RMB commodity products.
Bank of China, the country's leading commercial bank, on Thursday evening denied a media report claiming the bank had defaulted earlier in the day.
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