Off the wire
• Xinhua Insight: Great Wall needs better protection  • Death toll of Syrian soldiers in IS attack in Hama rises to 68  • China's top auditor warns of local government debt risk  • China's ultra-marathon champion runs through "Jurassic Park" in 88th marathon  • Gunmen shoot dead journalist in Pakistan  • Women's World Cup soccer results  • Beijing to keep cutting emissions throughout 2015  • Hefei-Fuzhou high-speed railway starts operation  • Syrian forces kill 30 rebels in southern province Daraa  • Saudi soldier killed in rocket attack from Yemen  
You are here: 　 Home

BOC authorized as RMB clearing bank in Hungary

Xinhua, June 28, 2015 Adjust font size:

The Bank of China (BOC) has been authorized as the clearing bank for RMB business in Hungary, China's central bank announced Sunday.

The work will be undertaken by the BOC Budapest Branch, said the People's Bank of China (PBOC).

The BOC can contribute to China's Belt and Road Initiative through its financial services, the PBOC said.

The Belt and Road Initiative, a reference to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aims to revive the ancient trade route between Asia and Europe. The network passes through over 60 countries and regions, with a total population of 4.4 billion.

The BOC has been named RMB clearing bank in Hong Kong, Macao, Taiwan, Frankfurt, Paris, Sydney and Kuala Lumpur. Endi