Bank of China owns nine of the 18 authorised yuan clearing banks worldwide. Photo: AFP Bank of China owns nine of the 18 authorised yuan clearing banks worldwide. Photo: AFP
Bank of China owns nine of the 18 authorised yuan clearing banks worldwide. Photo: AFP
Business /  Banking & Finance

new | CIPS to break Chinese banks' global monopoly over yuan clearing

Launch of the China International Payment System will see roles of Chinese lenders and Hong Kong in global yuan trading diminish in clearing

Liz Mak
Liz Mak

Updated: 11:36pm, 10 Sep, 2015

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Bank of China owns nine of the 18 authorised yuan clearing banks worldwide. Photo: AFP Bank of China owns nine of the 18 authorised yuan clearing banks worldwide. Photo: AFP
Bank of China owns nine of the 18 authorised yuan clearing banks worldwide. Photo: AFP
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