Latest News:  
Beijing   Sunny    7 / -3   City Forecast

People's Daily Online>>China Business

Bank of China, SMBC sign memo on yuan-related business


22:09, November 24, 2011

BEIJING, Nov. 24 (Xinhua) -- Bank of China (BOC) signed a memorandum of cooperation with Sumitomo Mitsui Banking Corporation (SMBC) on Thursday on yuan-related business due to increasing trade between China and Japan.

According to the memo, the two banks will cooperate in cross-border yuan trade settlement and fund-raising in yuan and other yuan-related business and research, BOC said in a statement on its website.

The move will not only deepen cooperation between the two banks but also promote the further development of bilateral trade between the two countries, the statement said.

BOC currently has five branches in Japan.

SMBC, a subsidiary of Sumitomo Mitsui Financial Group, is one of the top three banks in Japan.


Leave your comment0 comments

  1. Name


Selections for you

  1. Actors of the National Ballet

  2. China’s navy to conduct drill in West Pacific

  3. The village bookworm of 31 years

  4. Nightlife in China's cities

Most Popular


  1. It's proved a wise decision
  2. The role that US plays in Asia
  3. Addressing climate change
  4. Reviled 1 percent are not all wicked
  5. China must avoid Europe's mistakes
  6. China marks 10 years as partner in world trade
  7. Media distorted train crash claims: expert
  8. Return to reason for real estate
  9. A reality check for Washington
  10. Improving education quality in rural areas

What's happening in China

Forced HIV tests on way out

  1. Thousands of special police transferred to Urumqi
  2. Diplomatic micro blog seeks 'Wei-plomacy'
  3. Draft regulation allows bacteria in frozen food
  4. Wind rips open Beijing's terminal roof
  5. First-tier cities fail to satisfy residents

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival