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Bank of China announces establishment of Trading Centre in London

Xinhua, October 21, 2015 Adjust font size:

The Bank of China announced on Tuesday the establishment of the Trading Centre (London), and launched BOC RMB Bond Trading Index with ceremonies simultaneously held in London, Beijing and Singapore.

The founding of Bank of China Trading Centre (London) is an important step in accordance with the BOC Group's "Global Operation with integrated management" strategy.

The trading centre will provide its clients greater coverage in foreign exchange, derivatives, commodities and fixed income trading. This centre would be the Group's second largest offshore trading centre after Hong Kong, reinforcing the Group's global business network.

Bank of China is committed to developing London as the world's leading offshore RMB centre, "through promoting the economic and financial cooperation between the two countries and acting as a long-term and trusted partner and financial adviser for all global customers involved in China related businesses," said Gao Yingxin, Executive Vice President of BOC Group.

The BOC RMB Bond Trading Index includes four indices: CGB Clean-price Trading Index, CGB Dirty-price Trading Index, PFB Clean-price Trading Index, and PFB Dirty-price Trading Index.

CGB and PFB refer to Chinese Government Bonds and Policy Financial Bonds respectively. High liquidity of index elements, stable combined duration, transparent methodology, and accessibility to replicate feature the competitive advantages of the Index.

The Index will facilitate overseas investors to understand China Interbank Bond Market, track the market prices and enhance efficiency of trading in China Interbank Bond Market.

The Index is run by Bank of China Shanghai RMB Trading Unit. Price information is maintained in Bloomberg and Thomson Reuters EIKON every trading day, and monthly reports are available on Bank of China official website at the end of every month. Endit