Deutsche Bank breaks ground on cross-border RMB payments

Sat, 06/16/2012 - 13:20 EDT - BankingTimes.co.uk

Deutsche Bank says it has completed the first cross-border Renminbi (RMB) payment under the People’s Bank of China (PBOC) Shanghai’s Simplified RMB Cross-Border Payment Pilot Scheme. The bank executed a trade payment denominated in RMB for the Chinese subsidiary of Huettenes-Albertus, the German chemicals manufacturer. According to Deutsche Bank, the scheme significantly streamlines the process [...]

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Deutsche Bank breaks ground on cross-border RMB payments

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