APRIL 29th——Institutional Investor has awarded China Construction Bank (CCB) the Diamond Award for Best RMB Internationalization Service (Greater China) at the “RMB Internationalization Bank Awards 2015”, recently held by Institutional Investor China. It was the first time for the media organization to recognize banks in Greater China, and CCB was also the first Chinese bank to be recognized with the highest honor.
In 2015, despite an extremely complex operating environment and fierce market competition, CCB proactively adapted to the economic “new normal” and accelerated its transformation to a “comprehensive, multi-functional, intensive, innovative and smart” bank. CCB vigorously supported the national major strategies such as “One Belt and One Road” and “Going Global”, served the real economy, and strengthened its comprehensive risk management. The Bank achieved solid growth through a good balance of scale, quality and profitability, with the core indicators and market capitalization of the Group maintaining a leading position among peers.
CCB was one of the pilot banks in cross-border RMB business, which was positioned as the group’s strategic business concerning its core competence. Since the launch of pilot cross-border RMB business in 2009, CCB has accumulatively served 23,000 customers in 193 countries and regions, and the total cross-border RMB transaction volume reached RMB10.5 trillion as at the end of 2015, an average annual growth of over 200%. Regarding the breakthrough in the offshore RMB market, CCB became the RMB clearing bank in Chile and Switzerland respectively on May 25 and November 30, 2015 after being designated as the London RMB clearing bank on June 17, 2014. Through an efficient and safe offshore RMB clearing system and network, CCB has provided significant infrastructure for the offshore RMB market and boosted the internationalization of RMB. To date, the total transaction volume handled by the London RMB clearing bank has exceeded RMB 7 trillion, withthe Straight-through Processing (STP) rate standing at over 95%, reaching an advanced international benchmark.
Headquartered in New York, Institutional Investor magazine is a leading financial publication by Euromoney Institutional Investor PLC listed on London Stock Exchange, as well as a capital market data provider. The RMB Internationalization award took into account service quality, product comprehensiveness and price legitimacy and was reviewed and judged through public voting and expert evaluation.
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