Announcement Direct Trading between GBP and EUR in London and Frankfurt
On June 17 of London time, Mr. Li Keqiang, Chinese Premier, announced in the welcome banquet of Sino-Britain Trade Association that China Construction Bank (London) is designated as direct trading bank between RMB and GBP in London. People’s Bank of China also announced this news
after that, as well as the announcement
of China (Frankfurt) is the direct trading bank between
RMB and EUR in Frankfurt. The great movement means
that London and Frankfurt become the only two cities
provides direct trading between China and the countries
in Europe. GBP and EUR, one of the most important
currencies, can be directly trading in London a
This will help not only the official but also the private individual business being charged lower currencies conversation cost than before when currencies exchanging throughUSD. It becomes
much easier and cheaper for ourcustomers who transfer the payment for booking theirChina tours.
China Construction Bank enhances the cooperation to the main exchanges and promotes financial products, establishes the pricing system of stable commodities; in the meantime, invest more on resources and infrastructure construction support the investment of Chinese enterprises to Europe.
Nowadays, Luxembourg, Sydney and Singapore are striving to be the global center of RMB trading. As one of the largest foreign currencies exchange centers, London and Frankfurt are intensifying the business to RMB.