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ICBC Develops Strategic Cooperation with Euronext
 

On the afternoon of June 30 (local time in France), Mr. Jiang Jianqing, Chairman of ICBC and Mr. Lee Hodgkinson, Head of Markets and Global Sales of Euronext signed a strategic cooperation agreement worth EUR 3 billion at Hôtel Matignon in Paris, France under the witness of Chinese Premier Li Keqiang and French Premier Manuel Valls. This project marks the most extensive cooperation between a Chinese bank and Euronext.

According to the agreement, ICBC will conduct deep cooperation with Euronext in the European capital market and particularly in areas such as overseas RMB bond investment, Initial Public Offering (IPO), RMB Global Depository Receipt (GDR), Qualified Foreign Institutional Investor (QFII) and RMB Qualified Foreign Institutional Investor (RQFII), which will further diversify offshore RMB investments and play a positive role in facilitating cross-border use of RMB and further opening up China's capital market.

Euronext is one of the world's largest stock exchanges and the first global stock exchange, holding an important position in the global financial sector. In recent years, ICBC has actively catered to customers' diversified financial service needs and followed up on China's foreign trade and investment to strengthen its overseas presence. Currently its overseas network has covered 42 countries and territories worldwide and it has established nearly 400 institutions as a Chinese financial institution with the most extensive network coverage in the world. Meanwhile, as the world's largest RMB service provider, ICBC has five overseas RMB clearing banks designated by the central bank of China and is the first financial institution that has RMB clearing banks in Asia, Europe and America.


(2015-08-07)
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