A Rio-based Chinese bank will be connected to China’s cross-border interbank payment System (CIPS), an alternative to SWIFT, to support trade settlements between China and Brazil in renminbi. Banco BOCOM BBM, a subsidiary of the Bank of Communications, China’s fifth largest bank, will be linked to CIPS to reduce the costs of commercial transactions with […]
Tag: Industrial and Commercial Bank of China
Posted inAT+
The investment case for Chinese banks
Posted inBeijing, China, World
