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BOC Inked Cooperative Agreement with Reuters Group
The Bank of China (BOC) has lately inked a cooperative agreement with Reuters Group on using the latter's venture managerial system for fund business arrangement.
This is the first time for BOC to utilize technologic settlement plans of a third party instead of a system of its own. This is a system combining transaction with venture management that can provide various functions including e-commerce, money supply management, investment appraisal, market strategy and credit venture management.
Reuters Group will undertake frame design and the system will be installed in overseas branches of the Bank. Initial installments will be accomplished in Beijing and Hong Kong by yearend and then London and New York.
Chu Xinqiang, general manager of BOC Fund Headquarters held that Reuters Group's system can fully meet BOC's demand, providing BOC advanced venture management tools for handling its fund business.
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