BRANCH BANKING | Cesar Tordesillas, China

ABC's cross border RMB settlement reaches 121B by end of August

The Agricultural Bank of China recorded cross-border RMB settlement volume of RMB121 billion by end of August, including an increase of RMB89.15 billion or increase rate of 1156% in 2011.


The six branches in Zhejiang, Guangdong, Shenzhen, Shanghai, Guangxi and Inner Mongolia have exceeded RMB10 billion in terms of business volume.

Since the pilot program of cross-border RMB settlement service was launched, ABC has given active play to its advantages in capital and network to positively push the development of this service and continuously build the service brand of "Cross-border Express".

Currently, ABC has formed a relatively complete system of cross-border RMB service products integrating settlement, trade finance as well as domestic and overseas interaction.


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