ICBC has also disclosed that processed cross-border settlements have reached nearly CNY 6.7 trillion since 2009, when China started trials of cross-border trade settlement using the local currency in Hong Kong, Macao, ASEAN countries as well as a few other select locations.
Domestic and foreign institutions have opened 512 accounts at ICBC on CNY cross-border clearing and the bank is now providing cross-border clearing in 75 countries and regions.
In Q1 2014, ICBC handled the first direct NZD-CNY transaction in New Zealand, which was an exchange purchase business under goods trade, the bank has informed.
As one of the 3 lead arrangers, ICBC also helped the International Finance Corporation, a member of the World Bank Group, issue CNY-denominated bonds worth CNY 1 billion in March 2014 in UK.
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