"/>

    Bank of China launches clearing, settlement mechanism of Chinese yuan in Pakistan
    Source: Xinhua   2018-05-06 00:40:20

    ISLAMABAD, May 5 (Xinhua) -- The Bank of China has officially launched its services in Pakistan for clearing and settlement mechanism of Chinese yuan (CNY) for bilateral trade, investment activities, imports, exports and financing transactions, a statement said on Saturday.

    The Bank of China (BOC) had already commenced operations through its first branch in Pakistan's southern port city of Karachi in November last year.

    Earlier in January, the central bank of Pakistan declared Chinese currency renminbi or yuan as an approved foreign currency for denominating foreign currency transactions in Pakistan, declaring that Chinese yuan is at par with other international currencies such as U.S. dollar, euro and Japanese yen, and other currencies.

    The launching ceremony was held in Pakistan's southern port city of Karachi on Friday, which was attended by officials, several chiefs and executives from the banking industry and corporate sector.

    Li Tao, country head and CEO of BOC Pakistan Operations, highlighted the global recognition, importance and increasing utilization of Chinese yuan and said that the yuan settlement amount of China's cross-border trade exceeded 4.36 trillion yuan last year.

    According to the statement, the BOC serves as yuan clearing bank in France, Australia, Malaysia, Hungary, South Africa, Zambia, the United States and in several other places, occupying 11 seats in 24 clearing banks designated by the People's Bank of China.

    Wang Yu, Counsel General of Chinese Consulate in Karachi, said the BOC's operations for yuan will build another financial artery in China's Belt and Road Initiative as well as the China-Pakistan Economic Corridor.

    On the occasion, the BOC's staff introduced yuan products and solutions and vowed to provide prime services to governments, financial institutions, corporates as well as individuals in Pakistan, China and all countries in the world.

    Pakistani bankers hoped that yuan clearing and settlement mechanism will boost the transactions, including trade settlement and direct investment with the increasing demand for yuan from enterprises and financial institutions in the two countries.

    Deputy Governor of the State Bank of Pakistan Jamil Ahmad hoped that the BOC can provide liquidity in the interbank market and offer different yuan-denominated financial products to cater the need of the financial industry and the business community in Pakistan.

    Hussain Lawai, head of the Institute of Bankers Pakistan, believed that the launching of yuan clearing and settlement mechanism can definitely help to enhance the cross-border trade between the two countries and consequently benefit the enterprises and banks of either side.

    The yuan clearing and settlement in Pakistan will effectively reduce the exchange rate risk, which will help further reduce transaction costs, enrich investment and financing options, and better meet the needs of enterprises, individuals, and financial institutions, the statement said.

    Muneer Kamal, chairman of the board of Pakistan Stock Exchange Limited and director of Engro, called on the Pakistani financial institutions and corporates to grab the chance of yuan and further improve the development of the two countries.

    Editor: Yurou
    Related News
    Xinhuanet

    Bank of China launches clearing, settlement mechanism of Chinese yuan in Pakistan

    Source: Xinhua 2018-05-06 00:40:20
    [Editor: huaxia]

    ISLAMABAD, May 5 (Xinhua) -- The Bank of China has officially launched its services in Pakistan for clearing and settlement mechanism of Chinese yuan (CNY) for bilateral trade, investment activities, imports, exports and financing transactions, a statement said on Saturday.

    The Bank of China (BOC) had already commenced operations through its first branch in Pakistan's southern port city of Karachi in November last year.

    Earlier in January, the central bank of Pakistan declared Chinese currency renminbi or yuan as an approved foreign currency for denominating foreign currency transactions in Pakistan, declaring that Chinese yuan is at par with other international currencies such as U.S. dollar, euro and Japanese yen, and other currencies.

    The launching ceremony was held in Pakistan's southern port city of Karachi on Friday, which was attended by officials, several chiefs and executives from the banking industry and corporate sector.

    Li Tao, country head and CEO of BOC Pakistan Operations, highlighted the global recognition, importance and increasing utilization of Chinese yuan and said that the yuan settlement amount of China's cross-border trade exceeded 4.36 trillion yuan last year.

    According to the statement, the BOC serves as yuan clearing bank in France, Australia, Malaysia, Hungary, South Africa, Zambia, the United States and in several other places, occupying 11 seats in 24 clearing banks designated by the People's Bank of China.

    Wang Yu, Counsel General of Chinese Consulate in Karachi, said the BOC's operations for yuan will build another financial artery in China's Belt and Road Initiative as well as the China-Pakistan Economic Corridor.

    On the occasion, the BOC's staff introduced yuan products and solutions and vowed to provide prime services to governments, financial institutions, corporates as well as individuals in Pakistan, China and all countries in the world.

    Pakistani bankers hoped that yuan clearing and settlement mechanism will boost the transactions, including trade settlement and direct investment with the increasing demand for yuan from enterprises and financial institutions in the two countries.

    Deputy Governor of the State Bank of Pakistan Jamil Ahmad hoped that the BOC can provide liquidity in the interbank market and offer different yuan-denominated financial products to cater the need of the financial industry and the business community in Pakistan.

    Hussain Lawai, head of the Institute of Bankers Pakistan, believed that the launching of yuan clearing and settlement mechanism can definitely help to enhance the cross-border trade between the two countries and consequently benefit the enterprises and banks of either side.

    The yuan clearing and settlement in Pakistan will effectively reduce the exchange rate risk, which will help further reduce transaction costs, enrich investment and financing options, and better meet the needs of enterprises, individuals, and financial institutions, the statement said.

    Muneer Kamal, chairman of the board of Pakistan Stock Exchange Limited and director of Engro, called on the Pakistani financial institutions and corporates to grab the chance of yuan and further improve the development of the two countries.

    [Editor: huaxia]
    010020070750000000000000011100001371584511
    主站蜘蛛池模板: 日本亚洲国产一区二区三区| 激情欧美日韩一区二区| 国产精品无码不卡一区二区三区 | 欧美激情在线播放一区二区三区| 四虎影视在线影院在线观看 | 亚洲欧美成人一区二区在线电影 | 晚上看b站直播软件| 亚洲精品成人片在线观看精品字幕| 老司机午夜性大片免费| 国产成人精品免费久久久久| 97av麻豆蜜桃一区二区| 很黄很色裸乳视频网站| 久久国产乱子伦精品免| 欧美人与动人物姣配xxxx| 亚洲色图欧美激情| 精品国产免费一区二区三区| 国产伦精品一区二区三区| 亚洲五月激情综合图片区| 在线观看网址入口2020国产| 中文字幕不卡在线高清| 日本艳鉧动漫1~6全集在线播放| 亚洲成av人片在线观看无码| 男女性爽大片视频男女生活| 国产3级在线观看| 香蕉大视频在线播放持久| 国产精品亚洲欧美| 99re热视频这里只精品| 小受被强攻按做到哭男男| 主人丝袜脚下的绿帽王八奴| 日韩欧美在线不卡| 亚洲中文字幕无码av永久| 毛片a级毛片免费播放下载| 免费一级乱子伦片| 精品无码中出一区二区| 国产亚洲精品免费| 91啦在线视频| 国产精品久久久久久久久久免费| 91香蕉国产线观看免费全集| 天天操天天射天天| 一本大道香蕉久在线不卡视频| 手机在线观看视频你懂的|