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New Zealand registers China's CCB as a bank
July 14, 2014 / 10:47 PM / in 3 years

New Zealand registers China's CCB as a bank

WELLINGTON, July 15 (Reuters) - The China Construction Bank Corporation has been registered as a bank in New Zealand, the Reserve Bank of New Zealand said on Tuesday.

The Beijing-based bank, listed on the Hong Kong and Shanghai stock exchanges, plans to offer business and trade finance services.

It is the second Chinese bank operating in New Zealand after the Industrial and Commercial Bank of China Ltd, and the 24th bank registered by the RBNZ.

China is New Zealand’s biggest trading partner, and there is direct convertibility between the Chinese yuan and New Zealand dollar.

Reporting by Gyles Beckford; Editing by Lisa Shumaker

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