BOC maintains lead in international settlements

10:15, February 06, 2011      

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Bank of China, the country's third largest lender, said Saturday that it has maintained its first-place position worldwide in the global banking industry in terms of international settlements last year.

BOC's international settlements volume hit 1.97 trillion U.S. dollars in 2010, and its domestic branches rose 42 percent year on year to more than 900 billion U.S. dollars, 7 percentage points higher than the growth rate of China's foreign trade.

The lender also said its renminbi cross-border trade settlement services have covered more than 30 countries and regions by the end of 2010, and its domestic branches' yuan cross-border trade settlement business had exceeded 160 billion yuan (24.24 billion U.S. dollars).Source: Xinhua
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