Bank of Communications establishes London branch
The London branch of the Bank of Communications (BoComm) had its opening ceremony on Nov. 9, reinforcing the influence of China-funded banks in the British capital.
Song Shuguang, the chairman of board of supervisors of BoComm, referred to the branch as a “precious achievement” created by a sound China-U.K. financial and trade relationship.
The sub-center of BoComm's financial market will also start running as the London branch of BoComm officially opens for business. This allows BoComm to better serve Chinese and British enterprises, making London a center for cross-border RMB transactions in Europe.
In this way, BoComm will contribute to a golden era of China-U.K. relations, as well as the building of “Belt and Road,” Song added.
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