Xinhua Silk Road: Agricultural Bank of China launches global matchmaking platform to boost dev’t of int’l agricultural co-op

BEIJING, Sept. 25, 2023 /PRNewswire/ — The Agricultural Bank of China (ABC), one of the country’s four big state-owned lenders, launched a global matchmaking platform at the 2023 Belt and Road Agricultural Cooperation and Development Forum held in Beijing Thursday by the Department of International Cooperation with the Ministry of Agriculture and Rural Affairs, China Economic Information Service and ABC.

Based on ABC’s global customer resources and strength of financial technology research and development, the platform can intelligently match and accurately push business opportunities for both domestic and foreign supply and demand parties, and provide information release and business opportunity matching services regarding projects, commodities, services, and exhibitions, etc.

By converging business information globally, it can effectively promote connectivity at home and abroad, helping domestic and foreign enterprises get access to smooth industrial and supply chains.

Over the years, ABC has continuously enriched its product system, launching more than 80 kinds of cross-border financial products in seven categories of account, settlement, financing, financial credit, trading, investment banking and trusteeship, building a “cross-border plus” service system, and establishing a cross-border financial product system, so as to fully meet the financial needs of enterprises.

In the first half of 2023, ABC’s domestic and foreign branches handled in total about 118.7 billion U.S. dollars of international business related to 64 Belt and Road countries.

The bank has also closely followed the pace of RMB internationalization and actively served customers’ demand for cross-border use of RMB in trade transactions with the Belt and Road countries.

Since the Belt and Road Initiative was put forward in 2013, ABC has handled more than 15 trillion yuan of cross-border RMB settlement. It has also successively launched the listing and trading of RMB with Vietnamese Dong, Laotian Kip, Thai Baht and other currencies in the Belt and Road countries.

In serving regional development, ABC launched an action plan in 2022 to serve the implementation of the Regional Comprehensive Economic Partnership (RCEP). In the first half of 2023, it handled 117.8 billion U.S. dollars of international settlement and provided 52.8 billion yuan of international trade financing in the RCEP region.

Original link: