First ren­minbi clear­ing bank in South Amer­ica

China Daily (Canada) - - BUSINESS -

China Con­struc­tion Bank Corp has opened the first clear­ing bank for trans­ac­tions in ren­minbi in South Amer­ica in Chile’s cap­i­tal San­ti­ago, the bank said on Tues­day. The South Amer­i­can branch of CCB, one of the world’s top 10 banks, will not only help boost eco­nomic and trade ex­changes and fi­nan­cial col­lab­o­ra­tion be­tween China and Chile, but also help the bank ex­pand its ser­vices in Latin Amer­ica. Ini­tially, the branch will pro­vide cor­po­rate bank­ing ser­vices and pro­mote cross-bor­der ren­minbi trans­ac­tions.

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