Home / Business

Agricultural Bank of China to clear yuan in Dubai

By Reuters in Dubai | China Daily | Updated: 2016-08-12 07:42

China's central bank has chosen Agricultural Bank of China Ltd to clear yuan transactions in Dubai for the United Arab Emirates, sources with direct knowledge of the matter said on Thursday.

ABC officials were not immediately available to comment. Officials at the People's Bank of China declined to comment. The sources declined to be identified ahead of an official announcement.

Choosing a Chinese lender to clear yuan transactions in the UAE is seen as a move to strengthen growing economic ties between China and the Middle East.

Agricultural Bank of China to clear yuan in Dubai

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349