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Cross-border trade RMB settlement promotes Yunnan’s construction

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The cross-border trade RMB settlement has promoted Yunnan’s construction. An "ice-breaking" step of RMB for its trading outside of China has been made by Bank of China, Yunnan Branch.

About ¥610,560 of letter of credit has been settled by the bank for Hou Gu(后谷) Coffee Co., Ltd. in the Dehong Dai and Jingpo Autonomous Prefecture. A cooperation agreement for settling cross-border trade RMB has already been signed between the bank and many key import and export enterprises in Yunnan.

Bank of China, the only agency with dealership and liquidating function in China, has ranked 1st domestically in following items: settling cross-border currency and liquidating account. Presently, the bank’s global liquidating network has taken initial shape, covering Asia, Europe and America. Its branches in Hong Kong, Macau and 29 oversea countries have increasingly become an important RMB liquidating agency.

The Yunnan Branch of Export-Import Bank of China, Kunming Branch has been opened on October 11th. It is the 15th branch of the bank in China and 4th in the West China.

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