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[2013]The Asian Banker: Best RMB Clearing Bank in Asia Pacific


 

At the recent “Asian Banker Summit 2013 & Annual Achievements Awards 2013” organized by The Asian Banker, BOC won “The Best RMB Clearing Bank in Asia Pacific” Award for the third consecutive year by its outstanding performance in RMB clearing.

Since launched pilot cross-border RMB settlement in July 2009, BOC has given full play to its traditional advantage in trade finance and made all-out efforts to offer cross-border RMB service in cooperation with domestic and overseas institutions. By late 2012, BOC had achieved a cumulative cross-border RMB settlement volume of over 4.6 trillion yuan, kept ahead in cross-border RMB settlement and maintained the lead in market share, product system, clearing channel and number of customers, thus establishing its brand image as a key channel bank. In 2012, BOC’s inland institutions handled cross-border RMB settlement businesses worth some 1.2 trillion yuan for tens of thousands of customers in industries such as communication equipment, electronic products, communication and transportation, chemicals, manufacturing and wholesale & retail, up 54 percent year on year, had customers from over 200 countries and regions, and held a market share of over 30 percent; in the same period, the 24 overseas institutions handled cross-border RMB businesses worth over 1.26 trillion yuan, up 29 percent year on year.

The Asian Banker was founded in 1996. Since 2001, it has, on an annual basis, selected financial institutions with the best general performance or performance in specific fields in the Asia Pacific, and invited global industrial experts to work out a winner list.

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