Credit Europe Bank launches Renminbi transactions

If until now the transfer operation in China involved two exchanges: RON / USD (or EUR) and subsequently USD (or EUR) / RMB, now there is only one conversion: RON / RMB, made in Romania.

This service is provided by Credit Europe Bank (Romania) SA through RMB accounts open at Standard Chartered Bank (Hong Kong) Limited, Hong Kong and comes to support the business community that develops trade with China and individuals operating remittances to this country. The new product's potential is substantially considering that imports from China reached 2.556 billion euro last year, according to the National Statistics Institute.

The new service launched by Credit Europe Bank brings significant advantages for both Romanian importers and their partners:
- Eliminates the cost / currency exchange fees involved passing through the additional currency (or USD or EUR)
- Simplifies the formalities related to foreign exchange payments in China;
- Facilitates fund collection in a shorter period of time in local Chinese currency.

"Significant benefits are brought by the service by simplifying the entire process of currency trading to China. It also strengthens the relationship between Romanian and Chinese business partners, and is a strong argument for stimulating the development of commercial exchanges between Romania and China, "said Andreea Ionescu, Head of Financial Institutions, Credit Europe Bank.

Standard Chartered Bank (Hong Kong) Ltd. holds the 4th place among banks in Hong Kong, has 69 branches and offers to its clients Internet banking, private banking, investment services and insurance.