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Five Chinese banks to issue interbank CD to foreign financial institutions in Shanghai FTZ - sources
June 8, 2015 / 4:47 AM / 2 years ago

Five Chinese banks to issue interbank CD to foreign financial institutions in Shanghai FTZ - sources

BEIJING, June 8 (Reuters) - Five Chinese banks are set to issue interbank certificates of deposit to foreign financial institutions inside the Shanghai Free Trade Zone, four sources with direct knowledge of the matter told Reuters.

Three of China’s “Big Four” state-owned lenders, China’s Industrial and Commercial Bank of China Ltd , China Construction Bank Corp and Bank of China Ltd , as well as Shanghai Pudong Development Bank Co and Shanghai Huarui Bank will soon kick off the pilot programme, sources said.

Officials at the five banks declined to immediately comment.

The Shanghai branch of the People’s Bank of China also declined to comment. (Reporting By Zheng Li and Hongmei Zhao, Writing by Shu Zhang; Editing by Shri Navaratnam)

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