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The Introduction of RMB Business

RMB

At present, the Renminbi (RMB, also known as Chinese Yuan) has become the most effective currency in hedging exchange rate risk: since China's announcement in rolling out foreign exchange reform in May 2005 until now, the RMB has already appreciated over 20% in value, and the trend of RMB appreciation is continuing.

Bank of China Johannesburg Branch ("BOC Johannesburg") has been comprehensively unfolding RMB related businesses in South Africa and other African countries and has become the leader of RMB business in the local financial market.

Choosing Bank of China and choosing RMB business will smooth your path to wealth accumulation.

The Evolution of Bank of China Johannesburg Branch RMB Business

The first bank - Bank of China Johannesburg offers opening RMB clearing accounts and provides clearing services to banks in South Africa.

The first US Dollar to RMB foreign exchange spot transaction - Bank of China Johannesburg conducted between banks in South Africa.

The first Rand to RMB foreign exchange spot transaction - Bank of China Johannesburg processed between banks in South Africa.

The first RMB Bulk Salary Remittance business - Bank of China Johannesburg processed for a South African Chinese client.

The first bank - Bank of China Johannesburg did RMB investments via mainland China Bond Market transactions in the African market.

The first bank - Bank of China Johannesburg received approval from the South African Reserve Bank for Cross Border RMB finance business under Trade Finance services in the African market.

The First Bank- provided bilateral loan in South Africa.

At present, Bank of China Johannesburg comprehensively rolled out all financial products and services of a commercial bank under RMB business. Products and services available to other currencies also became applicable to RMB.

So far, Bank of China Johannesburg has started to provide RMB clearing and settlement services between banks, corporate and individual clients in other African countries.

In September 2011, the Bank established the RMB Business Department, which specializes in providing RMB business consultation, advisory and services.

In 2011, the Bank achieved RMB business volume increments of up to more than 20 times compared with that of the previous year, which is testimony to the fact that there are vast opportunities for China and South Africa's development of economic trade cooperation and demands for RMB business.

The Bank has become the market leader in RMB business in the entire African market.

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