IN BRIEF (Page 13)
China Daily | Updated: 2010-10-15 08:17
ICBC launches new system
The Industrial and Commercial Bank of China (ICBC) and its participating stock company, Standard Bank of South Africa, initiated a direct-connected cash management system on Wednesday in Wuhan, Hubei province.
The system allows Chinese companies to reduce their financial risk by implementing real-time monitoring of the capital flow of their African projects and managing their African bank accounts in China.
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