BOC Phnom Penh Branch authorized as RMB clearing bank

BOC Phnom Penh Branch authorized as RMB clearing bank

BOC Phnom Penh Branch authorized as RMB clearing bank

File photo shows an exterior view of the People's Bank of China in Beijing, capital of China. [Photo/Xinhua]

China's central bank announced on

Monday that it has authorized the Bank of China (BOC) Phnom Penh Branch to be the clearing bank for renminbi (RMB) business in Cambodia.

The People's Bank of China (PBOC), the central bank, made the decision in accordance with a memorandum of understanding it signed with the National Bank of Cambodia on Nov. 21 this year.

The PBOC also said Monday that it has signed a memorandum of understanding on establishing yuan clearing arrangements in Serbia.

The move will help enterprises and financial institutions of the two countries to use yuan for cross-border transactions and further promote bilateral trade and investment facilitation, it added.

Advertisement 970x90

Ready to Work Together?

Get Started

shaolingongfu.com was founded in China in 1996. The company has four divisions: Shaolin Services, Publication Services, Translation Services and Design Services.

Tel:0086-371-63520088
Email:webmaster@shaolingongfu.com
Skype:webmaster@shaolingongfu.com
QQ:76257322
备案号:豫ICP备05004936号-3

Newsletter Subscribe

Get in your inbox the latest News