Bank of China New York branch in big SME push

China Daily - - BUSINESS -

Bank of China’s New York branch will roll out more ser­vices for small and medium-sized en­ter­prises (SMEs) en­gaged in cross-bor­der busi­ness be­tween the United States and China this year, se­nior of­fi­cials with the bank said. “We are de­vel­op­ing a sys­tem with ex­ist­ing e-com­merce plat­form to fa­cil­i­tate trade fi­nance for e-com­merce play­ers,” said Xu Chen, pres­i­dent and CEO of Bank of China USA. The sys­tem would stick to anti-money laun­der­ing rules by US reg­u­la­tors through ar­ti­fi­cial in­tel­li­gence and cy­ber se­cu­rity tech­nolo­gies, said Xu.

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