Bank of China (BOC) and Deutsche
Börse have broadened their cooperation. The news was announced at a ceremony in
Berlin attended by the leaders of the two countries.
The partnership will result in the BOC becoming a trading and clearing participant of Deutsche Börse Group which will allow Chinese issuers and Asian investors to access German and European capital markets.
Francioni, the CEO of Deutsche Börse affirmed that the firm was continuing to
make good progress in Asia, having tagged Asia as being the most promising
source of growth for the company during a speech he made in January this year.
The two companies entered originally into partnership in December 2013. According to Deutsche Borse, the new agreement also calls on the two companies to develop the financial infrastructure needed to underpin further cooperation between China and Germany and to support the internationalization of the renminbi by promoting Frankfurt as a European offshore centre for China’s currency.