Hefei, Anhui, CHINA, Nov 2, 2015 - (ACN Newswire) - Chinese Premier Li Keqiang and German Chancellor Angela Merkel witnessed the signing of the MoU between China Construction Bank (CCB) and China Europe International Exchange (CEINEX). According to the MoU, both parties would endeavour to launch RMB denominated securities in Europe. The President of China Construction Bank Corporation Wang Zuji and the CEO of Deutsche Borse Group Carsten Kengeter attended the ceremony.
CCB and CEINEX agreed to cooperate with each other to promote the offshore RMB denominated securities products issuing and listing on CEINEX, allowing European investors to easily invest in RMB-denominated stocks bonds, funds and derivatives products. The parties agreed to meet investor demand for offshore RMB financing and investment, and to promote the internationalization of RMB. CCB International (a subsidiary of CCB) will launch its Commerzbank CCBI RQFII Money Market ETF as the first batch of products listing on CEINEX.
CEINEX, a Sino-German joint venture, with the Shanghai Stock Exchange, the China Financial Futures Exchange and the Deutsche Borse Group holding 40%, 20% and 40% of the shares of the company respectively, provides offshore RMB listing and trading services. Established in Frankfurt, the trading hours of CEINEX cover the European trading time zone, Asia's evening trading session and America's morning trading session.
In recent years, CCB actively promote offshore RMB business. After CCB London became the RMB clearing bank in London in 2014, CCB International, launched the first RMB-denominated and traded money market ETF in London in March this year, and listed the product in Euronext Paris in June. In October, CCB also entered into a MoU with LME and LMECC to participate in international commodities. The cooperation with CEINEX is another important milestone of CCB's global strategy; strengthen CCB's product coverage of continental Europe.
In the future, CCB will further devote in building the offshore RMB centre in Europe. To provide its clients with extensive and solid financial support in meeting the various needs of RMB from European corporations and investors. Ultimately serve for the national strategy of the RMB internationalization and the "belt and road" Initiative.
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CCB International (Holdings) Limited