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RBS launches cross-border yuan pooling in Shanghai

The Royal Bank of Scotland Plc launched an automated yuan cross-border cash pooling solution for its clients in the China (Shanghai) Pilot Free Trade Zone, becoming the latest in a series of foreign and Chinese banks to do so. The service is targeted at multinational companies registered in the Shanghai FTZ, enabling them to integrate their China onshore yuan cash flow with their regional and global cash pools and optimize their cash management and improve capital efficiency, said Jonathan Jiang, the bank's head of global transaction services in China.

Production starts at CNOOC's Kenli oil fields