ICBC London Branch's cross-border RMB trade financing scale reaches a new high
Since the beginning of this year, ICBC London Branch has deeply carried out the "Spring Xu Action", relying on the comprehensive advantages of the group's RMB business, actively supporting the demand for RMB investment and financing business from customers in the UK and other regions. As of the end of May 2023, the scale of cross-border RMB trade finance has reached a historic high, with a year-on-year growth of over 400%.
Faced with the complex economic and financial environment this year, ICBC London Branch actively promotes cross-border RMB business to Fortune 500, large multinational enterprises, and bulk commodity enterprises, providing various RMB trade financing solutions for key customers. While achieving the successful landing of multiple businesses, it effectively helps enterprises reduce financial costs, meet customers'fundingneeds for trade in China, and actively helps China's foreign trade business growth and structural optimization.
ICBC London Branch has always fully supported the cross-border RMB business needs of various types of market entities both domestically and internationally, continuously improving the quality and efficiency of cross-border RMB services, and achieving the first RMB trade financing and other business innovations in the African region. Next, ICBC London Branch will continue to serve the real economy and trade investment well, and work with clients from various countries to further promote the use of RMB, helping to promote the orderly internationalization of RMB.
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