In the 2011 Trade Finance Awards in Asia recently released by Hong Kong's Trade Finance magazine, Bank of China won the award of "Best Trade Finance Bank in China" for five years in a row.
Trade finance has always been the core and advantageous business of Bank of China. As of 2010, the amount of international settlement of Bank of China reached USD 1.97 trillion, maintaining a global leading position. Seizing the opportunity of RMB internationalization and the rapid growth in the cross-border RMB settlement in 2011, Bank of China has continued with the expansion in the cross-border RMB settlement business. As of the end of June this year, the total amount of cross-border RMB international settlement had exceeded RMB 1.2 trillion, further strengthening its market leadership. In the first half of 2011 alone, Bank of China won several top awards in the trade finance business from magazines such as Trade Finance, The Asset, Finance Asia, symbolizing that Bank of China' trade finance business is highly recognized by the market and the banking industry alike.
Headquartered in Hong Kong, Trade Finance is a publication owned by Euromoney Publishing Group. Specialized in the news coverage and professional research in the trade finance, it has become an important source of information for foreign trade enterprises and financial institutions to understand the development in the trade finance. The appraisal and selection of trade finance business awards sponsored by Trade Finance is well received in the industry due to its high reputation and authority.
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