China’s second largest bank, the China Construction Bank (CCB), inaugurated its subsidiary and Renminbi (RMB) Clearing Center in Chile on June 20 in Santiago.
(Soundbite) Guo You, Chairman of Board of Supervisors, CCB
“Domestically, CCB offers the highest standard of services for our 3.9 million wholesale clients and 314 million retail customers.”
In its initial phase of operations in Chile, CCB will provide corporate banking services and actively promote cross-border commercial transactions by RMB, the Chinese currency.
(Soundbite) Luis Felipe Cespedes, Chilean Minister of Economy, Development and Tourism 01:48-01:57
“At the government level, we will continue working for this integration. We will make it come true, because integration generates more profits.”
Chile and China have had a close relationship. In 2015, both countries signed a monetary agreement to facilitate Renminbi transactions and boost Chinese investment in Chile.