Bank of China said its net interest income rose to CNY374.25 billion from CNY359.71 billion and its non-interest income, including fees and commissions, grew to CNY175.76 billon. The clearing house for the London Metal Exchange, known as LME Clear, announced yesterday that it will start accepting offshore renminbi as eligible cash collateral. This is a significant step forward in China’s efforts to move away from its reliance on foreign exchange reserves and toward more domestic financial markets.
The clearing house for the London Metal Exchange, known as LME Clear, announced yesterday that it will start accepting offshore renminbi as eligible cash collateral. This is a significant step forward in China’s efforts to move away from its reliance on foreign exchange reserves and toward more domestic financial markets.