In a recent development, a forum focusing on renminbi business, themed "Building a New Bridge for China-Peru Economic and Trade Cooperation, Creating New Opportunities for Financial Connectivity," was held in Lima, Peru.
The event was organized by the Belt and Road Bankers Roundtable (BRBR) and attracted over 100 attendees, including representatives from Peruvian regulatory bodies, financial institutions, major corporations, and industry associations.
This year marks the 55th anniversary of diplomatic relations between China and Peru, and this forum served as the inaugural event in Peru for 2024 promoting renminbi business.
A signing ceremony for a memorandum of cooperation on renminbi services was also conducted during the forum.
The activity established a practical and efficient platform for collaboration between Chinese and Peruvian enterprises, contributing to the advancement of the renminbi's internationalization.
Industrial And Commercial Bank Of China Limited (ICBC) operates through its subsidiary, ICBC Peru, which is the first Chinese-funded bank in the country and has established a comprehensive renminbi service system covering clearing and financing.
Industrial And Commercial Bank Of China Limited (ICBC) will leverage its global integrated operational strengths to make greater contributions to serving high-standard openness and deepening economic and trade cooperation between China and Peru.
The BRBR mechanism was initiated by Industrial And Commercial Bank Of China Limited (ICBC) during the first Belt and Road Forum for International Cooperation in 2017, under the guidance of the People's Bank of China.
It is dedicated to fostering pragmatic cooperation among its members in areas such as project financing, green finance, financial technology, and capital markets.
To date, the BRBR mechanism's membership, including members and observers, has expanded to over 210 financial institutions and international multilateral organizations from 79 countries and regions.
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