China names ICBC as yuan clearing bank in Singapore
BEIJING Feb 8 (Reuters) - China's central bank has named Industrial and Commercial Bank of China (ICBC) as the clearing bank for offshore yuan business in Singapore.
"Based on the arrangement between the People's Bank of China and the Monetary Authority of Singapore to strengthen cooperation in financial services, the PBOC has decided to authorise ICBC's Singapore Branch as the clearing bank of renminbi business in Singapore," the central bank said in a statement on Friday on its website, www.pbc.gov.cn. (Reporting by Kevin Yao; Editing by Nick Edwards)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Two killed, four wounded in Washington state school shooting
- Two U.S. states to quarantine health workers returning from Ebola zones |
- NYC police say hatchet attack by Islam convert was terrorism |
- 'We won't pay,' furious Cameron tells EU over surprise bill |