China Construction Bank inks cooperation deal with Deutsche Börse
Germany’s Deutsche Börse and China Construction Bank have entered into a strategic partnership and have signed a ‘preferred partnership’ agreement under which they will explore the opportunities for more cooperation.
Headquartered in Beijing, China Construction Bank is a Chinese commercial bank with representative offices in key international financial centres. The two businesses said that potential areas of collaboration include expanding the bank’s activities in the European Union through clearing and trading membership in Xetra, Eurex and Eurex Clearing.
They are also looking to collaborate in post-trade and custody, as well as the joint development of the offshore renminbi market in Germany as well as in Europe as a whole. Both parties also plan intensive collaboration in training and professional development in support of the project. CCB has said the deal is part of China’s plans to further internationalise the RMB as a global currency.
“We regard this new strategic partnership agreed today with China Construction Bank as an important extension of our Asian strategy,” said Reto Francioni, chief executive of Deutsche Börse. “We are delighted to bring in our Group-wide expertise and capacity to offer top-quality China-related products and services in increasingly globalised markets.”
