22 July 2019

Banks to offer RMB services to Shanghai FTZ firms, Xinhua says

Seven commercial banks have agreed to provide renminbi services to companies in the Shanghai Free Trade Zone. These include cross-border, two-way funding and cross-border borrowing. The lenders are Commercial Bank of China Ltd. (601398.CN, 01398HK), Bank of China Ltd. (601988.CN, 03988.HK), Bank of Communications Co. Ltd. (601328.CN, 03328.HK), China Construction Bank Corp. (601939.CN, 00939.HK), Agricultural Bank of China Ltd. (601288.CN, 01288.HK), Shanghai Pudong Development Bank Co. Ltd. (600000.CN) and China Merchants Bank Co., Ltd. (03968.HK, 600036.CN), the report said.

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