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.
China Construction Bank Corporation (CCB), established in 1954 and headquartered in Beijing, is a leading domestic and world-renowned commercial bank. The Bank was listed on the Hong Kong Stock Exchange in October 2005 (stock code 939), and on the Shanghai Stock Exchange in September 2007 (stock code 601939). As at the end of August 2015, the market capitalization of the Bank had reached USD 176.8.billion, ranking fourth among all listed banks in the world. The Bank upholds an operating philosophy of being “customer-centric and market-oriented” and adheres to a strategy of “integration, multifunction and intensiveness”, striving to provide its customers with premium, efficient, comprehensive and modern financial services by rapidly achieving innovation across products, distribution channels and service models.
The Bank has maintained a leading position among its peers in many areas of its business, including wholesale and retail lending, investment services and wealth management services. While upholding its advantage in traditional banking, in areas such as infrastructure loans and residential mortgage services, CCB has also developed new businesses, including e-banking, private banking and credit card services, and maintains a strong competitive edge in the market.
As at the end of June 2015, the Bank’s total assets increased to RMB 18,200 billion and key financial indicators including ROA, ROE and capital adequacy ratio, were at the top of the global banking sector. As a banking group, CCB has established subsidiaries in non-banking business fields such as investment banking, mutual funds, trust, leasing, insurance and futures.
CEINEX – China Europe International Exchange AG – offers investment products based on Chinese underlyings to international investors, starting with cash market products. CEINEX is the first and only dedicated platform for authorized RMB-denominated trading outside mainland China – offering attractive new trading opportunities to trade China in a most efficient manner, supporting RMB internationalization effectively.
It is a joint venture by Shanghai Stock Exchange, Deutsche Börse and China Financial Futures Exchange. The new market place was launched in November 2015.