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Construction Bank Signs Agent Contract with HKSB
The China Construction Bank (CCB) signed an agent contract Thursday with the Hong Kong and Shanghai Banking Corp.(HKSB) on capital clearing in other cities.
According to the agreement, the CCB will provide comprehensive services for the HKSB's branches on the mainland, including capital remittance, clearing and tracing in Renminbi, the local currency.
Vice-President of the CCB Li Zaohang said that the CCB will adopt its recently-launched capital clearing system which has been designed for serving the special demands of regional banks, insurance companies, securities firms and large enterprises. It can meet the demands of clients for real-time remittance and clearing.
He said that so far the CCB has signed agent contracts with 26 banks and over 20 large enterprises for capital clearing in other cities.
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