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: Iron ore
Posted inBeijing, China, World
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Time to sell iron ore?
Posted inAustralia, Oceania