China Construction Bank (CCB) and the China Europe International Exchange (CEINEX) signed a Memorandum of Understanding (MoU) today. The signing ceremony was part of the Chinese-German government consultation taking place from 29-30 October.
China Construction Bank, headquartered in Beijing, is a leading Chinese commercial bank with representative offices in key international financial centres. CEINEX is the first international and regulated marketplace for trading RMB denominated investment products outside mainland China. The company is a joint venture by Shanghai Stock Exchange, Deutsche Börse and China Financial Futures Exchange and based in Frankfurt, Germany. The new marketplace will commence operations on 18 November 2015.
According to the MoU, CCB and CEINEX will work together in several areas. One objective is to jointly develop RMB denominated financial instruments for trading on CEINEX. The potential product scope will comprise Chinese securities, offshore RMB bonds as well as RMB denominated ETFs.
