Bank of China gets yuan mandate in Frankfurt
By Zhang Chunyan and Cecily Liu in London | China Daily | Updated: 2014-06-20 07:19
The central bank said on Thursday that it had designated Bank of China Ltd as the first yuan-clearing service bank in Frankfurt, the latest step in the nation's drive to bolster international use of the currency.
The move came a day after China Construction Bank Corp was designated as the first yuan-clearing bank in London.
In a statement on its website, the People's Bank of China appointed Bank of China as the first bank in the euro area able to clear payments in the Chinese currency.
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