ASX and Bank of China to deliver new RMB settlement service (4)

SYDNEY, Feb.19 (People's Daily Online) -- Australian Securities Exchange (ASX) and the Bank of China have agreed to deliver Renminbi (RMB) settlement services to the Australian and Chinese financial markets.

Bank of China Country Head and General Manager of the Sydney Branch, Shanjun Hu, and ASX Managing Director and CEO, Elmer Funke Kupper, signed the agreement on the 18th of February in Sydney.

The service will allow Australian companies to take or make payments with their Chinese investment and trading partners through proven market infrastructure.