China names RMB clearing banks for Laos, Kazakhstan

03/10/2022 12:39
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KPL (KPL) China's central bank announced Friday that it designated two banks as the renminbi (RMB) clearing banks for Laos and Kazakhstan, respectively, according to Xinhua on 30 August.

(KPL) China's central bank announced Friday that it designated two banks as the renminbi (RMB) clearing banks for Laos and Kazakhstan, respectively, according to Xinhua on 30 August.

According to an announcement from the People's Bank of China (PBOC), the two banks are the Industrial and Commercial Bank of China (Almaty) Joint Stock Company and the Industrial and Commercial Bank of China Limited Vientiane Branch.

The PBOC said it had recently signed a memorandum of cooperation for establishing RMB clearing arrangements with Laos and Kazakhstan, respectively.

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