China's Central Bank Taps Bank of China's London Branch as UK's Renminbi Clearing Bank

MT Newswires Live

02/10

The Chinese central bank authorized Bank of China's (SHA:601988, HKG:3988) London branch to serve as a renminbi clearing bank in the U.K., according to a press release on Sunday.

The People's Bank of China signed a memorandum of understanding with the Bank of England for the authorization.

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