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Chinese banks promote RMB business in Japan

Updated: Nov 14,2014 11:00 AM     Xinhua

OSAKA — The 13th Osaka Business Networking Club Networking Event was held in the city of Osaka on Nov 13, with Chinese banks participating and promoting yuan business to dozens of Japanese enterprises.

The meeting started with foreign banks introducing their financial products and services. Among them are the Industrial and Commercial Bank of China (ICBC), Bank of China, Korea Development Bank, PT Bank Negara Indonesia (Persero) Tbk, Australia and New Zealand Banking Group Ltd.

Their introductions met with great interest by the audience. Enterprise representatives rushed to the booths of the banks for consultancy after the presentations.

“My company is headquartered in Tokyo and has branches in Kyoto, Beijing, Shanghai and Chongqing. I want to learn more about the banks’ yuan services so as to coordinate the business of different branches of my company more smoothly,” said Hajime Ohki, executive managing director of Palm Spring Advisory Ltd.

“I’m in the movie business now, but I’m considering starting business on trade between China and Japan. I’m consulting for my future plans,” said Man Lam from Green Ocean Corporation in Hong Kong at the ICBC booth.

With enterprises around the world being positive about the prospect of renminbi internationalization, cross-border yuan settlement has been rising quickly.