PBoC appoints Deutsche Bank as a renminbi clearing bank for Europe
China’s central bank reiterates pledge to internationalise RMB as part of its five-year plan
The People’s Bank of China has appointed Deutsche Bank as a renminbi clearing bank for Europe, which the German institution said made it the first foreign entity in the continent to receive such a designation.
The Chinese central bank announced the move on August 10, and said it was the result of a memorandum of understanding signed between it and the German bank. Deutsche Bank issued its own statement today (August 11), saying the designation boosted its ability to advance connectivity between
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